TLDR
- MoneyGram introduced a Visa card backed by stablecoins, enabling users to maintain and use stable dollar holdings
- Colombia receives the card first, with worldwide rollout scheduled for upcoming months
- Circle’s USDC powers the initial launch, while MoneyGram’s MGUSD token will be integrated later
- Users can make purchases online, in physical stores, or withdraw cash in local currencies at MoneyGram outlets
- Development partners include Rain, Crossmint, and the Stellar blockchain network
MoneyGram has introduced a groundbreaking Visa card that enables users to maintain a US dollar balance supported by stablecoins and make purchases wherever Visa is accepted globally.
Colombia marks the initial launch location for this card, with plans to expand into additional territories throughout the next several months. Users can register via the MoneyGram mobile application and integrate the virtual card into Apple Wallet or Google Wallet platforms.
For its debut phase, the card operates on Circle’s USDC stablecoin infrastructure. Integration of MoneyGram’s proprietary dollar-pegged token, MGUSD, is planned for a subsequent release.
The MGUSD token was introduced by MoneyGram on the Stellar blockchain in June. Bridge, a stablecoin technology provider under Stripe’s ownership, handles the token’s issuance.
How the Card Works
Cardholders can utilize the product for e-commerce transactions, contactless in-store payments, or send funds to themselves for physical cash collection in native currencies at any MoneyGram location across the globe.
A physical version of the card is scheduled for release in 2026, which will include ATM cash withdrawal functionality.
Technology partners for the card development include stablecoin payment specialist Rain, digital wallet infrastructure provider Crossmint, and the Stellar blockchain platform.
The Network Behind the Card
MoneyGram’s customer base exceeds 60 million active users distributed throughout more than 200 nations and territories. The company operates a global network of approximately 500,000 retail agent locations.
This extensive physical infrastructure provides the company with a unique advantage in connecting digital stablecoin holdings to tangible cash accessibility in local markets.
According to PaymentScan analytics, stablecoin-powered card transaction volumes surpassed $1.1 billion in August.
Additionally, MoneyGram is recognized as a collaborating partner in Open USD, Stripe’s stablecoin project that distributes revenue among its participating supporters.
Throughout the past year, the company has been systematically integrating stablecoin infrastructure into its established remittance operations.
According to CEO Anthony Soohoo, the card empowers customers with enhanced flexibility and authority to oversee their finances through a unified platform.
This card initiative leverages MoneyGram’s 85-year legacy of facilitating international money transfers.
The product launch positions MoneyGram within an expanding ecosystem of organizations linking stablecoin holdings to mainstream payment infrastructure.
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