MoneyGram Card: How the Stablecoin Visa Card Works

The MoneyGram Card is a stablecoin-backed Visa card that MoneyGram launched on September 10, 2026, available first in Colombia, per MoneyGram's press release. It spends a dollar balance held in the MoneyGram app, and a MoneyGram spokesperson told The Block that balance is USDC at launch, with MoneyGram's own MGUSD to follow. The card is digital for now, works with Apple Wallet and Google Wallet, and a physical card is planned for late 2026. MoneyGram's launch materials don't publish the card's fees or spending limits. This guide covers what the MoneyGram Card is, how money gets in and out of it in Colombia, what is still unknown, and how it compares with a prepaid crypto card.

MoneyGram calls it "a stablecoin-backed card designed to serve eligible customers worldwide," per its press release. In practice it is available in one country so far.

Here is what MoneyGram and its partners have said:

• Network: Visa. The release says you can spend "anywhere Visa is accepted," online, in stores and across borders.
• Where it's live: Colombia, "with plans to expand to more global markets in the coming months," per the release. The spokesperson told The Block that MoneyGram "plans to expand initially across Latin America" but didn't name the countries.
• Form: digital at launch, with Apple Wallet and Google Wallet support. A physical card for ATM withdrawals and in-person purchases is planned for late 2026, per the release.
• Signup: inside the MoneyGram app, where you also manage the balance and spending.
• Merchants: Rain says merchants "do not need to hold stablecoins or be able to accept them directly" and that the card reaches "more than 175 million merchant locations," per Rain's launch post.

Three companies sit behind the card. Per Rain, "Crossmint powers the wallets where balances live," "funds move over Stellar's network," and "Rain powers the card that connects balances to Visa's network."

Rain is also the card partner behind Western Union's Stablecard; our Western Union Stablecard guide covers that product, which spends a different stablecoin, USDPT.

No. MoneyGram had an earlier card product, and the spokesperson told The Block that "product was discontinued in December 2025." If you're searching for a MoneyGram card you used before 2026, the stablecoin card is a new product with its own signup in the app.

The press release doesn't name the stablecoin; it refers only to a "stable-dollar balance," per MoneyGram. The answer comes from the spokesperson: "The new MoneyGram Card supports USDC at launch," per The Block, with MGUSD support planned.

MGUSD is MoneyGram's own US dollar stablecoin, which it launched in June 2026. Rain's post names both: USDC, which MoneyGram uses for crypto-to-cash conversions, and MGUSD, per Rain.

MoneyGram also told The Block why it doesn't call the product a debit card: "The card is stablecoin-backed and is not a traditional bank account or fiat-currency balance," per The Block. That matters because a stablecoin balance carries issuer risk rather than bank-deposit protection. Our explainer on what happens to a card balance if a stablecoin depegs walks through that risk for USDC.

The MoneyGram Card is built around remittances. That fits Colombia: the country received US$13.098 billion in remittances in 2025, 10.6% more than in 2024 and close to 3% of GDP, per Migración Colombia, citing Banco de la República data.

The release describes spending from your MoneyGram balance and doesn't list other ways to fund it, per MoneyGram. Rain's post frames it from the sender's side: the sender "selects the service and pays the fees," per Rain. MoneyGram's October app relaunch lists Colombia among the markets where US senders can send directly to app users, and says that "in select markets, consumers can also maintain a stable, dollar-denominated balance," per its October 19 release.

None of these sources says whether you can deposit USDC from your own external wallet or an exchange. If that's how your money arrives, check in the app before you rely on it.

Until the physical card ships, there are two ways to use the balance, per the press release:

1. Spend by card at Visa merchants, online or by tapping your phone through Apple Wallet or Google Wallet.
2. Send the balance to yourself and collect pesos at a nearby MoneyGram location.

ATM withdrawals arrive with the physical card, which MoneyGram targets for late 2026. For how ATM costs usually stack up on crypto-funded cards, see our guide to crypto card ATM withdrawals.

MoneyGram's press release, Rain's launch post and The Block's report don't publish card fees. The Block's article has no fee figures, and the release lists none.

What that leaves unknown:

Sources: MoneyGram press release, Rain, The Block.

The conversion line matters most in Colombia. Your balance is in US dollars and most purchases are in pesos, so the rate MoneyGram applies hits nearly every payment. Read the fee schedule in the app before you load money. Our guide to crypto card foreign transaction fees explains how a currency spread adds up across many small purchases.

Two conditions, per the spokesperson: "customers must be in an active market and complete MoneyGram's know-your-customer process," per The Block. Colombia is the only active market named so far. Expect to verify your identity in the app before the card is issued.

For a Colombian recipient whose money arrives as crypto rather than as a MoneyGram transfer, the alternative is SolCard: a prepaid Visa / Mastercard card loaded from a wallet holding USDT, USDC, SOL or other tokens on Solana, Ethereum, Base, Polygon and more. Colombia isn't on SolCard's restricted-country list, and the card asks for no bank account and no credit check.

The two cards suit different starting points. The MoneyGram Card starts from a MoneyGram transfer; SolCard starts from crypto you or the sender already hold.

Sources: MoneyGram, The Block, SolCard fees, SolCard help-centre fee breakdown for the $0.30 per transaction.

A relative in the US sends you $200, and you pay for groceries priced at the equivalent of $50 in pesos.

With the MoneyGram Card: the sender pays MoneyGram's transfer fee, and the money lands in your dollar balance. You tap your phone at the supermarket and the card converts dollars to pesos. The cost of that conversion isn't in the sources above, so the total can't be worked out from public pages. The advantage is that the sender never touches crypto, and you can still collect pesos in cash at a MoneyGram location.

With SolCard: the sender needs crypto and sends you 200 USDC, plus a network fee that depends on the chain. What reaches the card depends on the tier: all $200 on Platinum, which charges nothing to top up, and $190 on Virtual, where $10 goes to the 5% fee. The $50 grocery bill then costs:

On many small peso purchases, the $0.30 fixed fee weighs more than the spread. Ten $5 coffees cost $3 in transaction fees alone, so a card fits best for fewer, larger payments.

Against the MoneyGram Card, SolCard gives up three things. The first is phone payments: the MoneyGram Card has Apple Wallet and Google Wallet on day one, while SolCard keeps Apple Pay, Google Pay and its physical card for Platinum. The second is cash: there's no MoneyGram-style counter to collect pesos from, only an ATM with a Platinum card. The third is cost on Virtual, where the 5% top-up fee took $10 of the $200 in the example above. Like other prepaid cards, it also often fails at hotel and car-rental deposit holds, so keep it for purchases you pay in full. The virtual cards page shows the Virtual tier, and /compare lists other card matchups.

Pick the MoneyGram Card if your family abroad already sends to Colombia through MoneyGram. The dollar balance stays in the app, you pay by Visa from your phone, and when you'd rather hold pesos, a MoneyGram location pays them out. What you can't check yet is the cost: MoneyGram's launch materials leave out the fees, the peso conversion rate and the spending limits, and don't say whether USDC from your own wallet can go in.

Pick SolCard if the sender already holds crypto and can send USDT, USDC or SOL. Its fees are published up front (nothing to top up on Platinum, 5% on Virtual), so you can estimate what a payment costs before you make it, as in the grocery example. Whichever card you choose, read its fee schedule before moving money. Our crypto remittance statistics cover how stablecoins are used in remittances more broadly.

A stablecoin-backed Visa card that spends a dollar balance held in the MoneyGram app. MoneyGram launched it on September 10, 2026, with Rain, Crossmint and the Stellar network, per its press release.

Colombia at launch. MoneyGram plans to expand first across Latin America but hasn't named the next countries, per The Block.

Yes, at launch. A MoneyGram spokesperson told The Block the card supports USDC, with MGUSD, MoneyGram's own stablecoin, planned next.

Not yet. The card is digital and works through Apple Wallet and Google Wallet. MoneyGram plans a physical card for ATM withdrawals and in-person purchases in late 2026, per its press release.

For now, send the balance to yourself in the app and pick up local currency at a MoneyGram location, per MoneyGram. ATM withdrawals come with the physical card.

Yes. Customers must be in an active market and complete MoneyGram's know-your-customer process, per The Block.

MoneyGram avoids the term. Its spokesperson said the card "is stablecoin-backed and is not a traditional bank account or fiat-currency balance," per The Block.