MoneyGram Launches Stablecoin-Backed Visa Card in Colombia

MoneyGram is introducing a new use case for its stablecoin strategy with the launch of a Visa card in Colombia. The card allows users to hold USDC and make purchases via Visa, and access their funds in a local currency through MoneyGram’s network. 

Notably, this strategic development brings stablecoins closer to everyday payments. Instead of limiting fiat-backed crypto to money transfers and cross-border payments, MoneyGram is making it possible to use them for everyday purchases and other spending.

MoneyGram takes stablecoins into everyday life with Visa card

According to a press release, MoneyGram has launched its first stablecoin-backed Visa card. The card, which will be initially available in Colombia, will allow users to hold and spend stablecoins using the card for everyday purchases. Customers can use the card anywhere Visa is accepted, while funds can also be transferred to collect local currency at MoneyGram locations. CEO Anthony Soohoo stated,

"We're giving customers more freedom and control to manage their money, all in one place. The MoneyGram Card builds on the power of our global payments network, bringing a stable-dollar balance, everyday spending and cash access into the MoneyGram experience customers already use and trust."

Initially, the card will have support for the USDC stablecoin. This means that users can hold USDC in their card and use it for payments and purchases. In the future, the company also plans to add support for MGUSD, the stablecoin launched by MoneyGram in June 2026.

MoneyGram card to expand across Latin America

Currently, MoneyGram’s Visa card is available to eligible users in Colombia. However, the company plans to expand the service to other Latin American markets as well. As it continues to stay committed to its stablecoin strategy, MoneyGram eyes new markets to expand the Visa card services in the near future.

It is also worth noting that the card is currently available in the form of a digital card through the MoneyGram app. With the app, users can manage their balance, add the card to mobile wallets, and use it for online purchases. As noted by the company spokesperson, an individual should complete MoneyGram’s know-your-customer process to be eligible to use the Visa card.

Analyzing the new stablecoin approach

Interestingly, the Visa card is not the first card launched by MoneyGram. The company has offered similar products before. But the latest launch stands out as unique, and it is the company’s first stablecoin-backed card. While MoneyGram had previously launched physical and digital Visa debit cards linked to traditional fiat currencies, it later discontinued those services.

Now, the company is taking a different approach. Bringing stablecoins to everyday payments, MoneyGram is addressing the growing demand for stable tokens, while also bridging the gap between digital assets and traditional payment systems. The company spokesperson stated, “With the new MoneyGram Card, we've taken a fundamentally different approach that combines the benefits of stablecoins with a seamless customer experience for everyday utility.”