MoneyGram launched a virtual Visa card on Sept. 10, enabling customers in Colombia to hold and spend a dollar balance backed by stablecoins on the Stellar network.
The MoneyGram Card integrates Rain for stablecoin payment infrastructure, Crossmint for wallet technology, and Stellar for transaction settlement and fund movements. The design bypasses the need for separate crypto wallets or manual currency conversions, allowing near real-time transfers between stable-dollar balances and spending capabilities.
Customers can sign up within the MoneyGram app. Once active, the card works online and in stores anywhere Visa is accepted, with support for Apple Wallet and Google Wallet for tap-to-pay purchases. Users can also withdraw cash at retail pickup locations and freeze or unfreeze the card from a single dashboard.
Anthony Soohoo, MoneyGram's chairman and chief executive officer, said the card integrates stablecoin-powered payments into the company's existing global network, which serves over 60 million active customers across more than 200 countries and territories through nearly 500,000 retail locations.
MoneyGram plans to expand the card to additional markets in coming months and launch a physical version in late 2026 that will enable ATM withdrawals and in-person purchases in locations where digital wallets have limited adoption.
