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MoneyGram launches stablecoin-backed Visa card in Colombia

The card is slated to use Circle’s USDC initially, with MoneyGram planning a physical version later this year that supports ATM withdrawals.

Reported · Written up by our desk · Stablecoins

MoneyGram has unveiled a stablecoin-backed card that lets customers spend a U.S. dollar-denominated balance at merchants that accept Visa, aiming to bring digital dollars further into everyday payments, CoinDesk reports.

The MoneyGram Card will launch first in Colombia. Customers can sign up through MoneyGram’s app, add the card to mobile wallets, and spend online or in stores, and they can also send money to themselves for cash pickup in local currency at MoneyGram locations.

The initial stablecoin balance will be supported by Circle’s USDC, and MoneyGram said its own MGUSD token will follow. MoneyGram also plans to introduce a physical version later this year, which it said will support ATM withdrawals.

CoinDesk reports the card was built with Rain, Crossmint, and the Stellar network. MoneyGram said the move is part of its broader effort to embed stablecoin payment rails into its remittance business, which it says serves more than 60 million active customers across over 200 countries and territories with nearly 500,000 retail locations.

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