MoneyGram Launches USDC-Backed Visa Card in Colombia

Product / TechDigital Finance
โดย Yahoo Finance·COUS·Read original
Summary · why it matters

MoneyGram has launched a stablecoin-backed card that lets users hold a U.S. dollar-denominated balance and spend it anywhere Visa is accepted. The new MoneyGram Card is initially available only in Colombia, with plans to expand to other markets in the coming months. Consumers can sign up through MoneyGram's app and use the card for online and in-store purchases, and can also send money to themselves for cash pickup at MoneyGram locations. The card runs on Visa's global payments network and uses Circle Internet Group's USDC stablecoin, and MoneyGram said it plans to eventually make its own MGUSD token available with the card as well. MoneyGram added that it plans to introduce a physical version of the card later this year that will support withdrawals at ATM bank machines. The launch comes as stablecoin trading volumes surpassed $1.1 billion U.S. in August, according to Payment Scan. MoneyGram is no longer publicly traded, having been acquired by private equity firm Madison Dearborn Partners in 2023 for $1.8 billion U.S.

Impact on stocks 2

Digital Finance & Tokenization · 2 stocks
Visa Inc. Class A
V
▲ PositiveDemandrelevance

The MoneyGram Card runs on Visa's global payments network, adding transaction volume to Visa.

Theme Impact 4

Off-coverage companies 2

MoneyGram InternationalPrivate▲ Positive
Technologyrelevance

MoneyGram launched a USDC-backed Visa card in Colombia, its own new product.

Madison Dearborn PartnersPrivate± Mixed
relevance

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