Payment Company Launches First Stablecoin-Backed Visa Card in Colombia

MoneyGram has launched its first Visa card powered by stablecoin balances in Colombia.

According to a company spokesperson speaking to The Block, the MoneyGram Card supports USDC balances at the launch phase. Users can spend this balance wherever Visa is accepted and withdraw their MoneyGram balances as local currency from the company’s locations.

MoneyGram’s new product moves stablecoin usage beyond money transfers, linking it to everyday shopping. Currently active only in Colombia, the digital card can be obtained via the MoneyGram app. Users can manage their balances from the app and add the card to their mobile wallets for online or contactless payments.

Card unlocks balance for spending

Customers wishing to benefit from the card must be located in an active market and complete MoneyGram’s Know Your Customer (KYC) process. Following Colombia, the company plans to expand to other countries in Latin America, though it has not yet shared a specific list of countries.

MoneyGram plans to add its own dollar-pegged cryptocurrency, MGUSD, to the card in the near future. However, this asset is not among the options supported at the card’s launch. The company also specifies that the new card is not a traditional bank account or fiat balance.

The card was developed with Rain; Crossmint’s wallet features and the Stellar network were used for the infrastructure. MoneyGram had previously terminated its MoneyGram Account product, which included physical and digital Visa debit cards issued by Pathward, in December 2025.

The company plans to offer a physical card option in late 2026. This option will allow users to withdraw cash from ATMs and make payments in stores where digital cards have more limited acceptance.