MoneyGram launches Visa stablecoin card in Colombia

MoneyGram has launched a Visa stablecoin card in Colombia, giving eligible customers access to dollar-linked balances, card payments and local cash collection.

MoneyGram’s Sept. 10 announcement said the virtual MoneyGram Card is available through its mobile application. Customers can connect it to Apple Wallet or Google Wallet for online and contactless payments wherever Visa is accepted.

The Dallas-based payments company developed the product with stablecoin infrastructure provider Rain. Crossmint supplies wallet technology, while the Stellar network handles blockchain transactions behind the service.

Colombia is the first market for the card. MoneyGram plans to enter more countries during the coming months and introduce a physical version before the end of 2026. The company has not disclosed the next markets, pricing structure or exact physical-card release date.

MoneyGram stablecoin card connects spending and cash access

Within the MoneyGram app, eligible customers can apply for the virtual card and manage their balance and transactions. The card lets users hold a stable-dollar balance and spend it through Visa’s merchant network without leaving the MoneyGram application.

Meet the MoneyGram Card.

A stablecoin-backed card built to give customers more freedom to hold, access and spend their money, all within the MoneyGram experience they already know.

𝗕𝘂𝗶𝗹𝘁 𝗶𝗻𝘁𝗼 𝗠𝗼𝗻𝗲𝘆𝗚𝗿𝗮𝗺
Access your card directly through the MoneyGram app. No… pic.twitter.com/7nYOuGUrw6

— MoneyGram (@MoneyGram) September 10, 2026

Cardholders who need physical currency can send money to themselves and collect local cash from a participating MoneyGram location. The initial virtual product does not provide direct ATM withdrawals, according to the release. MoneyGram expects the planned physical card to add ATM access and purchases at locations where digital wallets are unavailable.

“We’re giving customers more freedom and control to manage their money, all in one place,” Chairman and CEO Anthony Soohoo said. He described the product as combining “a stable-dollar balance, everyday spending and cash access” inside MoneyGram’s existing service.

The company did not identify which stablecoin backs customer balances, explain its reserve arrangement or publish redemption terms in the announcement. Its description of a “stablecoin-backed card” confirms that blockchain-based dollar value funds the product, but it does not say whether customers directly hold tokens or a platform balance representing them.

MoneyGram has presented the card as a product for eligible users worldwide. Availability will still depend on each launch market, local regulations and the company’s rollout schedule.

Rain, Crossmint and Stellar provide separate components

Rain supplies the card infrastructure connecting stablecoin balances with the Visa payment network. The New York-based company provides card and wallet technology for businesses offering stablecoin-funded payments.

Crossmint handles the wallet component used inside MoneyGram’s application. Stellar provides the public blockchain on which the product’s underlying digital transactions operate, according to MoneyGram.

MoneyGram retains the customer-facing relationship through its app and cash network. The company reports more than 60 million active customers, operations across over 200 countries and territories, and nearly 500,000 retail locations. All three figures come from MoneyGram and were not independently audited in the card announcement.

The Colombian debut places the card in a market where financial companies are testing blockchain-based settlement and foreign-exchange systems. In related coverage, crypto.news reported that two Colombian financial institutions joined a 24/7 settlement network, including state-owned Banco Agrario.

Rain worked with Western Union on a separate Visa stablecoin card announced in August. Western Union’s Stablecard lets eligible recipients hold dollar-backed stablecoins and spend through Visa, giving both major remittance providers card products built with the same infrastructure company.

Card launch follows MoneyGram’s MGUSD and Solana work

MoneyGram introduced MGUSD on Stellar in June 2026 for treasury management, settlement and foreign-exchange activity. The company said at the time that the dollar-linked token would initially become available in the U.S., followed by other markets.

Its stablecoin strategy later extended to MoneyGram Ramps, an application programming interface linking digital wallets with its physical cash network. An August integration brought the service to Solana, letting supported wallet users deposit or withdraw value through participating locations.

The card gives customers a spending function on top of MoneyGram’s digital balance and cash services. People can retain dollar-linked value, pay merchants through Visa or collect local currency through the company’s retail network.

Under the U.S. GENIUS Act, payment stablecoins must meet rules covering permitted issuers, reserve assets, redemption and monthly disclosures once the applicable provisions take effect. Crypto.news has detailed how U.S. stablecoin issuers face reserve and licensing requirements, although MoneyGram’s release does not identify MGUSD as the asset backing its Colombian card.

The company has not said whether future versions will support multiple stablecoins or blockchain networks. Rain’s infrastructure can support card programs funded with stablecoins, while MoneyGram controls which assets and markets become available through its service.

Debit cards remain the cheapest remittance payout method

The World Bank’s September 2025 remittance-pricing report found that the global average cost of sending $200 was 6.36% during the third quarter of 2025. Digital remittances averaged 4.59%, compared with 7.30% for nondigital services.

Debit cards carried the lowest average cost among the payout methods measured. Disbursing a remittance through a debit card cost 3.61% across the 48 services in that category. Mobile wallets averaged 3.18% in the World Bank’s separate prospective-services index, where debit-card data were unavailable.

For funding a transfer, credit and debit cards became the cheapest measured instrument at 4.39%. Cash-funded transfers averaged 7.01%, while bank-account funding cost 8.69%.

The World Bank dataset covered 48 sending countries, 105 receiving countries and 367 corridors. MoneyGram and Western Union appeared in the International Money Transfer Operator Index because their services covered 90% and 95% of the tracked corridors, respectively.

MoneyGram has not published the fees, foreign-exchange spread or card-transaction charges applying to its Colombian product. The planned physical card is scheduled for late 2026, when MoneyGram expects to introduce ATM withdrawals and in-person payments beyond locations supporting digital wallets.