MoneyGram Launches First Stablecoin-Backed Visa Card in Colombia

Colombia is the initial market for MoneyGram Card, which MoneyGram launched on September 10, according to the company’s launch announcement.

Customers can hold a USDC-backed stable-dollar balance, spend it at Visa-accepting merchants or send funds for collection as local currency through MoneyGram locations.

The card connects those payment options with MoneyGram’s cash-pickup network. Support for MoneyGram’s MGUSD stablecoin has not yet been added.

USDC balances can now be spent through Visa in Colombia

MoneyGram said cardholders can hold a stable-dollar balance and spend wherever Visa is accepted. They can also transfer funds for collection as local currency through MoneyGram locations, according to the company’s September 10 announcement.

That combination gives the product two distinct uses at launch: card payments at Visa merchants and transfers that can be collected in local currency. MoneyGram did not announce a broader market rollout in the material provided.

Digital-first rollout uses wallets and Stellar-linked partners

MoneyGram’s announcement names Rain, Crossmint and the Stellar network as partners in developing the MoneyGram Card.

… Continue reading the full article at the original source below.