MoneyGram launches first stablecoin-backed Visa card in Colombia

MoneyGram brings stablecoin spending to Colombia

MoneyGram has launched its first stablecoin-backed Visa card, initially available to customers in Colombia. The card lets users spend digital dollars linked to the blockchain while moving between crypto and local cash through MoneyGram's existing network.

The company has worked with stablecoins since 2021, when it started supporting conversions between cash and USDC. In June 2026, MoneyGram introduced its own dollar-pegged token called MGUSD. The new card supports USDC now, with plans to add MGUSD soon.

How the card works

The MoneyGram Card is available digitally inside the MoneyGram app. Customers can sign up, manage their balance, and add the card to mobile wallets for online and tap-to-pay purchases.

Users can also transfer funds from their MoneyGram balance to themselves and pick up local currency at nearby MoneyGram locations.

• The card supports USDC at launch; MGUSD will be added later
• Currently available digitally only in Colombia
• Physical cards are planned for late 2026
• Developed with Rain, using Crossmint wallets and the Stellar blockchain

Why it is not called a debit card

A MoneyGram spokesperson explained that the card is not labeled a debit card because it is not tied to a traditional bank account or fiat currency balance. Instead, it is backed directly by stablecoins.

To be eligible, customers must be in an active market and complete MoneyGram's know-your-customer process. Colombia is the first market, with expansion across Latin America planned. The company declined to share specific countries for now.

Replacing an older card product

This is not MoneyGram's first card overall. The company previously offered the MoneyGram Account, which included physical and digital Visa debit cards issued by Pathward. That product was discontinued in December 2025.

The new approach combines stablecoin benefits with everyday spending, according to the company.

Part of a wider push into stablecoins

The launch comes as payment companies increase their focus on stablecoins. Stablecoin supply has grown to nearly $300 billion, and Visa's public dashboard shows adjusted transaction volume running in the trillions of dollars over the past 12 months across major blockchains.

MoneyGram serves more than 60 million active customers across over 200 countries and territories, with nearly 500,000 retail locations worldwide.

What happens next

MoneyGram plans to introduce a physical card option in late 2026. This would allow customers to withdraw cash at ATMs and make in-person purchases where digital cards are less accepted. Expansion to additional Latin American countries is also planned, though specific markets have not been announced.

Sources

• The Block