MoneyGram unveils stablecoin-backed card as digital dollars move into everyday spending

Global remittances firm MoneyGram is taking its stablecoin push to the checkout counter through a card that lets customers hold a U.S. dollar-denominated balance and spend it anywhere Visa is accepted.

The MoneyGram Card will be first available in Colombia with plans to expand to other markets over the coming months, the company said on Thursday. Customers can sign up through MoneyGram's app, add the digital card to mobile wallets and spend online or in stores. They can also send money to themselves for cash pickup in local currency at MoneyGram locations.

The card will initially use Circle's $USDC $USDC$1.0007 stablecoin, with MoneyGram's own MGUSD token set to follow, the company told CoinDesk.

MoneyGram said it plans to introduce a physical version later this year that will also support ATM withdrawals. The card was developed with stablecoin payments firm Rain, wallet provider Crossmint and the Stellar blockchain.

The move coincides with stablecoins becoming an increasingly visible part of everyday finance. Dollar-linked tokens have moved beyond their original role as trading tools in crypto markets into cross-border payments, remittances and corporate treasury, while cards offer a simple way to spend those balances through payment networks consumers already use.

Card spending is starting to reflect that shift as stablecoin volume surpassed $1.1 billion in August, according to PaymentScan data.

"We're giving customers more freedom and control to manage their money, all in one place," MoneyGram CEO Anthony Soohoo said.

The card extends MoneyGram's effort to embed stablecoin rails into its traditional remittance network.

That network gives the company an unusual bridge between digital money and physical cash: MoneyGram says it serves more than 60 million active customers across over 200 countries and territories with nearly 500,000 retail locations.

The firm recently unveiled in June its own dollar-backed stablecoin MGUSD on the Stellar network and issued by Bridge, the stablecoin infrastructure company owned by Stripe.

MoneyGram was also listed as a one of the partners in Open USD, the Stripe-led stablecoin initiative that aims to share revenue with a consortium of backers.

Read more: MoneyGram's CEO says blockchain works best when customers don't know it's there