MoneyGram Launches Visa Stablecoin Card in Colombia

MoneyGram has launched a Visa-branded stablecoin debit card. The initial release is a virtual card available in Colombia. Users can access the card via Apple Wallet or Google Wallet. The company plans to issue physical cards later this year. This move follows a similar product launch by rival Western Union. Both firms are expanding their blockchain-based payment services.

The new card supports the MGUSD stablecoin. MoneyGram introduced MGUSD on the Stellar network in June. The token integrates with the company's proprietary app. A self-custodial wallet handles the assets. This infrastructure allows for direct cross-border transfers. The card converts stablecoin value into fiat currency at the point of sale.

Shared Infrastructure Provider

MoneyGram partners with infrastructure provider Rain for this launch. Western Union also uses Rain for its Stablecard rollout. Cointelegraph notes that both companies rely on the same technical backbone. This shared vendor reduces development costs for both firms. It accelerates the time to market for stablecoin products. The partnership standardizes the underlying payment rails.

Western Union announced its Stablecard last month. MoneyGram followed with its own card within weeks. The competition between these two giants is intensifying. Both are targeting the remittance market. They aim to lower fees for international workers. The stablecoin model bypasses traditional correspondent banking.

Remittance Cost Reduction

The World Bank identifies stablecoins as a cost-saving tool. A September 2025 analysis highlights debit cards as the cheapest method. The cost to receive remittances via debit card is 3.61 percent. This figure represents the percentage of the transmitted amount. Traditional wire transfers often cost more. Stablecoin cards offer a competitive alternative to cash pickup.

MoneyGram is expanding its crypto ramps. Last month, it linked with a Solana wallet. This addition broadens the supported blockchain networks. The company is deepening its push into digital assets. The strategy focuses on cross-border payments. It aims to capture a larger share of the global remittance flow.

Market Expansion Plans

The virtual card debuts first in Colombia. The company will add physical cards later. Expansion to additional markets is planned for this year. The phased rollout allows for testing in one region. It mitigates operational risks before broader distribution. The virtual format requires no physical logistics initially.

This launch marks a significant step for MoneyGram. It aligns the company with industry trends. The focus shifts from pure money transfer to asset management. Customers gain access to stablecoin benefits. The card provides liquidity for digital assets. The market response will determine the pace of future growth.