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Key Takeaways
- MoneyGram has launched a digital Visa card in Colombia that lets eligible customers spend a USDC-backed balance held through its app.
- The product uses Stellar, Crossmint wallet capabilities and Rain’s card infrastructure, but the regulated issuer and USDC safeguarding arrangements have not been publicly identified.
- Support for MGUSD and a physical card are planned but not available at launch.
MoneyGram has launched a USDC-backed Visa card in Colombia, allowing eligible customers to hold a stable-dollar balance, make purchases and send funds to themselves for local-currency collection at MoneyGram locations.
The card is available digitally through the MoneyGram app and supports USDC at launch. It runs on Stellar, uses wallet capabilities from Crossmint and was developed with stablecoin payments firm Rain.
Colombia is the first market for the card. The company intends to expand across Latin America but has not named the next countries.
Card Supports Visa Spending and Peso Cash Pickup
Customers who complete MoneyGram’s know-your-customer process can sign up for the card within the app, manage their balance and add the card to a mobile wallet for online and tap-to-pay purchases.
They can also transfer funds from their MoneyGram balance to themselves and collect local currency at a nearby MoneyGram location. That gives users a route from a dollar-linked digital balance to Colombian pesos without sending funds to another person.
MoneyGram describes the balance as stablecoin-backed rather than a conventional bank account or fiat-currency balance. The product therefore should not be understood as a standard debit-card account. Only a digital card is available at launch. A physical version planned for later in 2026 would add ATM withdrawals and broader in-person spending.
MoneyGram Card Runs on Stellar, Crossmint and Rain
The stablecoin balance is supported by USDC on the Stellar network. MoneyGram began working with Stellar in 2021 and launched cash-to-USDC and USDC-to-cash services through its network in 2022.
Crossmint provides wallet capabilities for the product. Rain supplies the card infrastructure and describes its platform as infrastructure for stablecoin-powered card programs and money movement.
Those roles explain how the product operates, but they do not fully establish the legal chain behind a customer balance.
Rain says cards are issued through licensed partners in their relevant jurisdictions. However, the companies have not publicly named the regulated entity issuing the Colombian card or specified which entity safeguards customers’ USDC balances.
Rain also states that it is not a bank, exchange, or asset custodian. That makes it important not to describe Rain itself as the institution holding customer funds.
MoneyGram Has Not Fully Detailed Fees or Safeguards
MoneyGram has not publicly set out the fees, foreign-exchange spreads or withdrawal costs that may apply when customers use the card or convert their balance for cash pickup.
It has also not explained the legal treatment of USDC balances if MoneyGram, a wallet provider, a card-program partner or another company involved in the service becomes insolvent. The product is not described as a deposit account, so customers should not assume bank-deposit protections apply.
MGUSD support is planned for a later stage but is not available at launch.
The Colombian rollout extends MoneyGram’s stablecoin services from remittances and cash conversion into card spending. Its consumer protections will depend on the terms and regulated entities identified as the product expands.
