MoneyGram has launched a virtual stablecoin card in Colombia through Visa and Rain infrastructure partners, as reported by multiple sources including Cointelegraph and the company on September 10. The card is available through MoneyGram's mobile application and can be connected to Apple Wallet or Google Wallet for online and contactless payments wherever Visa is accepted. According to the announcement, eligible customers can hold stable-dollar balances, spend through Visa's merchant network, or collect local currency from participating MoneyGram locations. The Dallas-based payments company developed the product with stablecoin infrastructure provider Rain, while Crossmint supplies wallet technology and Stellar handles blockchain transactions for global users. The card operates on the Stellar network with automatic USDC conversion at checkout, allowing users to maintain stablecoin balances while spending through traditional Visa infrastructure.
Within the MoneyGram app, eligible customers can apply for the virtual card and manage their balance and transactions. The card allows users to hold stable-dollar balances and spend them through Visa's merchant network without leaving the MoneyGram application. As reported by MoneyGram, cardholders who need physical currency can send money to themselves and collect local cash from participating MoneyGram locations. The initial virtual product does not provide direct ATM withdrawals, though the company expects the planned physical card to add ATM access and purchases at locations where digital wallets are unavailable. The card's processing is executed through Stellar, with Crossmint providing wallet custody infrastructure and Rain connecting the balance to Visa's network. According to TradingView News, the card is described as spending at more than 175 million merchant locations through Visa's global network.
Colombia represents the first market for the card, with MoneyGram planning to enter more countries during the coming months and introduce a physical version before the end of 2026. According to the company announcement, MoneyGram has not disclosed the next markets, pricing structure, or exact physical-card release date. The company reports more than 60 million active customers, operations across over 200 countries and territories, and nearly 500,000 retail locations. All figures come from MoneyGram and were not independently audited in the card announcement. The physical card version is scheduled for release in late 2026, which will include ATM withdrawal capabilities and purchases at locations where digital wallets are unavailable. As reported by TradingView News, Anthony Soohoo, MoneyGram's chairman and CEO, framed the launch around user control, saying "We're giving customers more freedom and control to manage their money, all in one place."
The launch follows MoneyGram's introduction of MGUSD on Stellar in June 2026 for treasury management and settlement activities. As reported by MoneyGram, the company later extended its stablecoin strategy to MoneyGram Ramps, an application programming interface linking digital wallets with its physical cash network, with an August integration bringing the service to Solana. Rain previously worked with Western Union on a separate Visa stablecoin card announced last month, with both major remittance providers now offering card products built with the same infrastructure company. According to TradingView News, more than 160 stablecoin card programs were operating on Visa in the second quarter of 2026, highlighting the rapid maturation of this market segment. The card represents a significant cost reduction compared to traditional remittance methods, as recipients can hold stablecoin balances without immediate conversion to local currency, potentially saving on exchange rates and fees.
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, with digital remittances averaging 4.59% compared to 7.30% for nondigital services. According to the World Bank data, debit cards carried the lowest average cost at 3.61% among payout methods measured across 48 services. MoneyGram has not published the fees, foreign-exchange spread, or card-transaction charges applying to its Colombian product, though the planned physical card is scheduled for late 2026 with additional features. The card represents a significant cost reduction compared to traditional remittance methods, as recipients can hold stablecoin balances without immediate conversion to local currency, potentially saving on exchange rates and fees. According to TradingView News, the card allows users to hold funds as stablecoins on the MoneyGram app, with a $100 purchase converting only what that transaction requires, leaving the remaining balance in dollar-pegged assets.
