MoneyGram has introduced a new Visa-branded stablecoin debit card, following a similar move by its competitor Western Union. The product aims to bolster the company's presence in the blockchain-based payment sector and streamline cross-border financial services.
The MoneyGram Card will launch first in Colombia as a virtual option compatible with Apple Wallet and Google Wallet. The company intends to release a physical version of the card and expand availability to additional markets before the end of the year.
Infrastructure provider Rain is supporting the development of the new card, mirroring its partnership with Western Union for the Stablecard project. This initiative follows the June launch of MoneyGram's own MGUSD stablecoin on the Stellar network.
The company has also integrated a self-custodial wallet into its proprietary application and established a connection with the Solana wallet ecosystem. These steps are part of a broader strategy to enhance its crypto-related payment infrastructure.
According to World Bank data from September 2025, debit cards represent the most cost-effective instrument for receiving remittances, with fees averaging 3.61% of the total transaction amount.
