Money transfer company MoneyGram announced the launch of the MoneyGram Card, a digital Visa card with a balance backed by stablecoins. The card is initially available to customers in Colombia, but the company plans to expand the service to other markets in the coming months.
Users will be able to hold funds in a dollar-denominated balance, pay for purchases online and offline anywhere Visa is accepted, and receive local currency at MoneyGram locations. The card can be issued and managed through the company’s app.
MoneyGram partnered with Rain to provide the stablecoin payment infrastructure. Crossmint and the Stellar blockchain are also involved in the project.
MoneyGram did not disclose which stablecoin is used to back the dollar balance, nor did it provide any financial figures for the new product.
By the end of 2026, the company plans to launch a physical version of the card. It is expected to support ATM cash withdrawals and payments at places where digital cards have limited acceptance.