MoneyGram has launched a Visa stablecoin card in Colombia, allowing eligible customers to spend a stable-dollar balance held through the MoneyGram app wherever Visa is accepted. The company announced the MoneyGram Card on September 10, 2026, making Colombia its first available market.

The launch was announced in MoneyGram’s official release. The product is linked to Visa and backed by a stablecoin, although MoneyGram has not identified the asset supporting card balances in the release.

How the MoneyGram Card works

MoneyGram is a global money-transfer company, while Visa provides the payment network that enables card use at participating merchants. A stablecoin is a crypto token designed to maintain a relatively stable value, usually through a peg to a fiat currency such as the U.S. dollar. MoneyGram says the card provides a stable-dollar balance within its app.

Eligible customers can apply for and manage the card in the MoneyGram app, then use it for online, in-store and cross-border payments wherever Visa is accepted. The launch builds on the company’s broader move into crypto payment infrastructure, including its earlier launch of Solana cash ramps across more than 170 markets.

The announcement of a launch does not mean that every customer in Colombia is automatically eligible. MoneyGram says the card is live in Colombia, but individual eligibility and onboarding requirements must still be checked in the app.

The product combines several providers’ infrastructure. MoneyGram is responsible for the card experience, Rain provides card-processing infrastructure, Crossmint manages wallet capabilities, and the Stellar network serves as the underlying blockchain.

Anthony Soohoo, MoneyGram’s chairman and CEO, connected the card to the company’s existing payments network in the announcement.

“The MoneyGram Card builds on the power of our global payments network, bringing a stable-dollar balance, everyday spending and cash access into the MoneyGram experience customers already use and trust.” — Anthony Soohoo, MoneyGram chairman and CEO

Stablecoin, fees and conversion details remain unconfirmed

The launch release does not name the stablecoin that backs card balances. A crypto.news report also flags the omission. Unconfirmed reports have pointed to USDC or MoneyGram’s own MGUSD, but neither asset has been confirmed as the card’s backing token.

Stellar’s native token, XLM, is separate from any card balance. XLM traded near $0.18 with a market value of about $6.2 billion, based on market data. That price is not tied to the card and should not be interpreted as evidence of a launch-driven market move.

At launch, the MoneyGram Card is virtual. Customers can add it to Apple Wallet or Google Wallet for contactless and online payments. MoneyGram says a physical card is planned for late 2026 and will add ATM withdrawals. That is a future plan rather than a feature available at launch.

For now, cash access works differently. Customers can transfer funds to themselves from a MoneyGram balance and collect local currency at a MoneyGram location. This process remains relevant for users who need physical cash immediately.

MoneyGram’s official product page advertises that the card has no monthly or annual fees. That statement does not establish that all possible costs are waived. Foreign-exchange, transfer and other transaction charges have not been confirmed as zero, and Colombia-specific terms remain subject to verification.

Visa branding also does not by itself establish that a stablecoin is settled directly at the point of sale. The timing and method of any conversion from a stablecoin balance into fiat currency, as well as the applicable conversion cost, still need to be confirmed. The issue is part of wider industry activity involving stablecoin-based settlement, including Visa’s stablecoin loan settlements through Credit Coop.

Availability and features in Colombia

Colombia is the only market identified in MoneyGram’s announcement. The company said it plans to expand the product to additional global markets in the coming months, but the release did not identify those countries.

The product page requires identity verification before the card can be activated. It also advertises in-app controls for freezing and unfreezing the card, transaction notifications, and tracking for pending charges, transactions, refunds and declines.

The product’s practical value for users in Colombia will depend on the final terms. A stable-dollar balance may be useful to customers who want to hold and spend dollars, but the relevant conversion costs, transaction limits and other conditions must be clear. Wider stablecoin access remains an active area of development, as illustrated by Circle’s move to end older USDC support on Noble.

The available information does not establish that the card will reduce remittance costs, accelerate transfers or lead to wider adoption. Those issues remain open until MoneyGram publishes more Colombia-specific details.

Customers in Colombia can explore the card through the MoneyGram app, complete identity verification and test the virtual card if eligible. Before relying on the product, users should confirm the fee schedule, the stablecoin backing the balance and any conversion charges directly in the app.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always conduct your own research before making decisions.