MoneyGram is expanding its stablecoin activities, introducing a Visa-branded stablecoin debit card just weeks after a similar move by global remittance rival Western Union.
The MoneyGram Card will initially debut as a virtual card in Colombia that can be used with Apple Wallet or Google Wallet, the company said in an announcement. It plans to introduce a physical card option as it expands to additional markets later this year.
It is working with infrastructure provider Rain on the new card. Western Union is also working with the provider in the roll-out of its Stablecard, announced last month.
In June, MoneyGram launched its MGUSD stablecoin on Stellar, as it deepened its push into blockchain-based cross-border payments, integrating MGUSD with its proprietary app through a self-custodial wallet.
Last month, it announced a link with Solana wallet as it expanded its crypto ramps.
The World Bank has identified stablecoins as a key tool in reducing the cost of global remittances. Its September 2025 analysis of trends in the cost of remittance services found that debit cards are the lowest cost instrument to receive remittances, at 3.61% of the transmitted amount.
Related: US Bank tests proprietary stablecoin in cross-border Stellar transaction
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