Crypto · updated 2h ago · 2 min read
MoneyGram Launches Stellar-Powered USDC Visa Stablecoin Card in Colombia
MoneyGram launches a Visa card backed by stablecoins on the Stellar network in Colombia. Card allows spending stablecoin balance (USDC) directly at merchants and online via Visa network.
Which stablecoin backs the card.
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The Defiant
“MoneyGram promised the card a year ago and has not said which stablecoin now backs it.”Read the original ↗
The Defiant emphasises uncertainty about which stablecoin backs the card, while other outlets clearly state USDC at launch.
MoneyGram Card in Colombia
MoneyGram launched the MoneyGram Card on September 10, 2026 in Colombia as a stablecoin-backed Visa card that runs on the Visa network and is accessed directly inside the MoneyGram app.
“MoneyGram introduced the MoneyGram Card on September 10, 2026”
The card lets users spend online, in physical stores, and across borders, and it can be loaded into Apple Wallet or Google Wallet for tap-to-pay purchases.
MoneyGram said the service allows users to keep a balance in USDC and use it on the Visa network or convert it to cash, with the product operating integrated within the company’s mobile application.
The card’s processing is executed through Stellar, according to the report, and MoneyGram said it plans to ship a physical card later in 2026.
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," in the announcement.
USDC, MGUSD, and Partners
At launch, the card is powered by USDC, and MoneyGram said users can manage the balance from the MoneyGram app and link the digital card to Apple Wallet or Google Wallet for everyday spending.
The product is built on Stellar, and the report says it uses Crossmint for wallet custody infrastructure while Rain connects the balance to Visa’s network.
MoneyGram also confirmed that the card will soon support MoneyGram’s own stablecoin, MGUSD, which was issued on Stellar on June 2, and the card is described as spending from a stable-dollar balance held in the MoneyGram app.
Rain said MoneyGram picked Rain for a single API integration, and the card is described as spending at more than 175 million merchant locations.
The Defiant reported that MoneyGram promised the card a year ago and that it "works anywhere Visa is accepted," while also noting that the company had not said which stablecoin backs it at the time of that write-up.
What’s Next and What’s at Risk
MoneyGram said it plans to expand the experience with a physical card option at the end of 2026, which would allow users to withdraw cash at ATMs and make in-person purchases where digital cards are less widely accepted.
“MoneyGram planea ampliar la experiencia con una opción de tarjeta física a finales de 2026”
The launch also comes with a broader competitive context in stablecoin-linked payments, with the report stating that in the second quarter of 2026 there were more than 160 programs of cards linked to stablecoins operating in Visa.
The sources also highlight that stablecoin balances are not bank deposits and are not protected by government deposit insurance programs, which shapes the risk profile for users who hold balances in the app.
MoneyGram’s card is positioned as part of a wider remittance and cash access strategy, and one report says MoneyGram has more than 6,000 in Colombia for cash collection at MoneyGram branches.
In the announcement, Anthony Soohoo said, "We’re giving customers more freedom and control to manage their money, all in one place," while the product’s next steps depend on how the physical rollout and stablecoin support evolve after the Colombia launch.