MoneyGram Launches Stablecoin-Backed Visa Card in Colombia
Card Allows Spending Digital Dollars at Any Visa Merchant
MoneyGram has launched a new card that lets customers hold U.S. dollar balances and spend them using stablecoins, which are digital currencies pegged to the dollar. The card, called the MoneyGram Card, is initially available in Colombia and will expand to other markets over the coming months.
Customers can sign up through MoneyGram's app, add the digital card to mobile wallets, and spend online or in stores where Visa is accepted. They can also send money to themselves for cash pickup in local currency at MoneyGram locations.
- The card initially uses Circle's USDC stablecoin, with MoneyGram's own MGUSD token planned to follow.
- A physical version of the card with ATM withdrawal support is expected later in 2026.
- The card was developed in partnership with Rain, Crossmint, and the Stellar blockchain.
What MoneyGram CEO Says About the New Card
Anthony Soohoo, Chairman and CEO of MoneyGram, stated, "We're giving customers more freedom and control to manage their money, all in one place."
Stablecoin Card Spending Reaches $1.1 Billion
Data from PaymentScan shows that stablecoin card spending volume surpassed $1.1 billion in August 2026. This reflects a broader trend of stablecoins moving beyond crypto trading into everyday payments.
Key Features and Background of the MoneyGram Card
The card is confirmed to be available in Colombia via MoneyGram's app and will support digital and cash spending. MoneyGram has over 60 million active customers across more than 200 countries and nearly 500,000 retail locations, which provides a bridge between digital money and physical cash.
MoneyGram previously launched its own dollar-backed stablecoin, MGUSD, on the Stellar network in June 2026. The company is also listed as a partner in Open USD, a stablecoin initiative led by Stripe.
Why This Matters for Everyday Finance
The launch demonstrates stablecoins, digital tokens backed by traditional currencies like the dollar, are increasingly used for daily transactions. The $1.1 billion in card spending volume highlights their growing role in payments beyond crypto markets.
Expansion Plans and Next Steps
MoneyGram plans to expand the card to additional countries in the following months. A physical card with ATM access is scheduled to be introduced later in 2026.
