MoneyGram Introduces Stablecoin-Backed Card in Colombia
MoneyGram, a global payments firm, has launched a stablecoin-backed card that allows users to hold a balance denominated in U.S. dollars and spend it wherever Visa is accepted. The new product, named the MoneyGram Card, is currently available only in Colombia, with plans for expansion into additional markets in the coming months.
Users can register for the card through MoneyGram's app, enabling them to make purchases online and in physical retail locations. The card also facilitates money transfers for cash pickup at MoneyGram outlets. It utilizes the USDC stablecoin from Circle Internet Group, which is pegged to the U.S. dollar, ensuring stability in value for users.
In addition to the current offering, MoneyGram has indicated intentions to introduce its own MGUSD token linked to the card. A physical version of the card is expected to be released later this year, which will allow users to make withdrawals at ATM machines. This launch comes at a time when stablecoins are increasingly integrated into everyday financial transactions, with trading volumes exceeding $1.1 billion in August 2026.
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Source: KLEA News