MoneyGram launches Visa stablecoin card in remittance push

MoneyGram has introduced a Visabranded stablecoin debit card as it expands its blockchainbased payments business, following a similar move by rival Western Union. The card will launch first as a virtual product in Colombia and can be used with Apple Wallet and Google Wallet. MoneyGram said it plans to add a physical card and expand to more markets later this year. The company is working with infrastructure provider Rain on the rollout. MoneyGram also launched its MGUSD stablecoin on Stellar in June and recently added a link with a Solana wallet as it continues building cryptorelated payment rails. The World Bank has said stablecoins can help lower remittance costs, and its analysis found debit cards are the cheapest way to receive remittances among the instruments it studied.