MoneyGram launches first stablecoin Visa card in Colombia

MoneyGram has launched its first stablecoin Visa card in partnership with stablecoin payments infrastructure firm Rain, with Colombia as the first market, The Block reported. The card initially supports Circle’s USDC, while MoneyGram’s in-house dollar-denominated stablecoin, 'MGUSD,' is set to be added soon. Users can manage stablecoin account balances in the MoneyGram app and use the card for online, offline, and tap-to-pay purchases at Visa merchants. Users can also send the card balance to themselves and pick up or withdraw local currency directly at MoneyGram locations worldwide.