MoneyGram launches USDC Visa card in Colombia

MoneyGram has launched a stablecoin-backed Visa card in Colombia, giving eligible customers a way to spend USDC balances through the MoneyGram app and convert funds into local cash at the company’s retail network. The release is MoneyGram’s first card product linked to stablecoin holdings and starts a planned expansion across Latin America.

The digital card, developed with stablecoin payments company Rain, can be used anywhere Visa is accepted and added to mobile wallets for online and tap-to-pay purchases, MoneyGram said. Customers can also transfer money to themselves from a MoneyGram balance and collect local currency at a nearby MoneyGram location.

USDC is the only supported stablecoin at launch. MoneyGram said it intends to add support for its own dollar-pegged token, MGUSD, in a later rollout.

The Colombia launch places a consumer spending product alongside MoneyGram’s long-established cash pickup business. Rather than requiring customers to first withdraw stablecoins through a separate platform before spending them, the company is putting card payments, a digital dollar balance, and cash collection inside its own app and retail network.

Colombia is the first market for the digital card

The card is available to customers who live in an active market and complete MoneyGram’s know-your-customer checks. Colombia is the first active market, with further Latin American expansion planned, though MoneyGram has not named the next countries or provided a timetable.

MoneyGram said it serves more than 60 million active customers in over 200 countries and territories through nearly 500,000 retail locations. That physical footprint gives the company a distribution channel that differs from stablecoin payment products built solely around bank accounts, crypto wallets, or merchant checkout systems.

For users who need cash for daily spending, the ability to send money to themselves and receive local currency at a MoneyGram location could be a practical part of the product. The arrangement also connects a dollar-denominated digital balance to markets where card access, mobile-wallet use, and cash demand can vary sharply by location.

MoneyGram plans to add a physical version of the card in late 2026. The company said a physical card would support ATM withdrawals and in-person purchases in places where digital wallet payments are less common.

Rain, Crossmint and Stellar provide the payment rails

Rain provides the stablecoin payments infrastructure behind the Visa card program. Crossmint supplies wallet capabilities, while the Stellar network is part of the underlying setup, MoneyGram said.

The company did not say whether the card will eventually support blockchains beyond Stellar or stablecoins beyond USDC and the planned MGUSD integration. The initial structure nevertheless keeps the blockchain mechanics largely out of the customer experience: users interact with a MoneyGram balance and a card inside the app, rather than managing network fees or sending assets between separate self-custody wallets.

That design reflects the direction of travel for payment companies entering stablecoins. The consumer-facing product is a familiar Visa credential, while stablecoin balances operate in the background as the source of funds. Whether this model gains traction will depend less on technical familiarity among customers than on card availability, conversion costs, cash-access convenience, and the range of markets where MoneyGram activates the service.

MoneyGram did not disclose card fees, spending limits, foreign-exchange terms, or the exact process used to convert stablecoin balances during purchases. Those details will shape how the product compares with ordinary prepaid, debit, and remittance options available in Colombia.

The launch builds on MoneyGram’s earlier stablecoin work

MoneyGram’s involvement with stablecoins began in 2021 through a partnership with the Stellar Development Foundation. That arrangement enabled customers in parts of its network to convert cash into USDC and USDC back into cash.

In June, MoneyGram introduced MGUSD, its own dollar-pegged stablecoin, which it said was designed for use across its payments network. Adding MGUSD to the card would give MoneyGram a direct consumer spending route for the token, rather than limiting it to transfers and conversions within the company’s services.

The company had previously operated a fiat-based MoneyGram Account product that included physical and digital Visa debit cards issued by Pathward. MoneyGram discontinued that product in December 2025 and said it currently offers no other cards. The Colombia card therefore marks both a return to card issuance and a shift toward stablecoin-linked balances.

Stablecoin payments move from transfers to everyday spending

The rollout arrives as stablecoin use is increasingly being tested in payment applications, including cross-border transfers, merchant settlement, payroll, and card-linked spending. MoneyGram cited stablecoin supply near $300 billion, while Visa’s public stablecoin dashboard records adjusted transaction volume in the trillions of dollars across major blockchains over the previous 12 months.

Large transaction figures do not automatically translate into retail card usage. A considerable share of on-chain stablecoin activity is associated with trading, liquidity management, and transfers between financial platforms. Card programs such as MoneyGram’s are aimed at a different test: whether stablecoin balances can be made useful for customers who want to pay merchants or obtain local cash without navigating cryptocurrency infrastructure directly.

For MoneyGram, Colombia provides an early operating market where the company can assess how its app, card network, stablecoin conversion tools, and retail agents work together. A successful expansion would give the remittance company a way to extend stablecoins from cash-in and cash-out services into routine payments, while retaining the physical collection network that remains central to its business.