MoneyGram unveils Visa-powered stablecoin debit card amid industry competition
In a move mirroring competitor Western Union's strategy, MoneyGram has introduced a Visa stablecoin debit card as part of its growing blockchain payment infrastructure.
MoneyGram has broadened its stablecoin offerings by unveiling a Visa-branded debit card backed by stablecoins, arriving only a few weeks following a comparable initiative from Western Union, its major competitor in the international remittance sector.
According to the company's official statement, the MoneyGram Card will first launch in Colombia as a virtual card option compatible with both Apple Wallet and Google Wallet. The company has outlined plans to roll out a tangible physical card version while simultaneously extending availability to other markets throughout the remainder of this year.
The company has partnered with infrastructure provider Rain for the development and deployment of this new card product. Notably, Western Union has also formed a partnership with the same provider for launching its Stablecard, which was publicly announced during the previous month.
MoneyGram debuted its MGUSD stablecoin on the Stellar blockchain network in June, marking a significant advancement in its strategic pivot toward blockchain-powered international payment solutions, incorporating MGUSD functionality into its proprietary mobile application via a self-custodial wallet feature.
During the previous month, the company revealed an integration with Solana wallet as part of its ongoing efforts to broaden its cryptocurrency on-ramp and off-ramp capabilities.
The World Bank has recognized stablecoins as an essential instrument for lowering expenses associated with international remittances. The organization's September 2025 examination of pricing trends within remittance service markets revealed that debit cards represent the most cost-effective channel for receiving remittance payments, with fees averaging 3.61% of the transferred sum.