On September 10, local time, international money transfer company MoneyGram launched the MoneyGram Card, a stablecoin-backed Visa card, in Colombia. According to The Block, this is MoneyGram's first stablecoin-backed card. The digital card allows users to hold a balance tied to the value of the dollar in the MoneyGram app and use it for everyday payments. Eligible users in Colombia can apply for the card in the MoneyGram app and activate it after completing the required identity verification. Adding the card to Apple Wallet or Google Wallet allows them to pay by phone at Visa merchants or use it for online purchases. When they need cash, they can send the balance in the MoneyGram app to themselves and collect it in local currency at a nearby MoneyGram location. According to the fee schedule linked on the product page, the digital card has no issuance fee, monthly or annual fee, or purchase fee at launch, but a $1 monthly inactivity fee applies after three consecutive months without card activity.
Rain provides the underlying card technology, while Crossmint provides wallet functionality, and the service uses the Stellar network. According to The Block, a company spokesperson said the card supports USDC at launch and that MoneyGram plans to add support soon for MGUSD, its own dollar stablecoin introduced in June. Colombia is currently the only launch market, but MoneyGram said it plans to expand to other markets over the coming months. MoneyGram plans to add a physical card in the latter part of 2026, enabling ATM cash withdrawals and payments at stores where using a digital card is difficult. The cash pickup currently available at MoneyGram locations works by sending an app balance to oneself and collecting it in local currency.