MoneyGram joins the stablecoin debit card arms race, taps Visa and Rain 🪙

MoneyGram is rolling out a Visa-branded stablecoin debit card for cross-border payments, marking its latest move into blockchain-based remittances and arriving weeks after rival Western Union unveiled a similar product. The MoneyGram Card will launch first as a virtual card in Colombia, compatible with Apple Wallet and Google Wallet, with a physical card rollout planned for additional markets later this year, according to the company's announcement.

The card is being built with infrastructure provider Rain, the same company working with Western Union on its Stablecard, which was introduced last month. MoneyGram said the Colombia debut is designed to test consumer demand before expanding globally.

The launch builds on MoneyGram's broader push into stablecoins. In June, the company introduced MGUSD, a dollar-pegged stablecoin issued on the Stellar network, and integrated it with its proprietary app through a self-custodial wallet. The following month, MoneyGram announced a connection with a Solana wallet as it widened its crypto on- and off-ramp offerings.

The moves come as global institutions highlight stablecoins' role in lowering remittance costs. A September 2025 World Bank analysis found that debit cards were the lowest-cost instrument for receiving remittances at 3.61% of the transmitted amount, underscoring why remittance operators are increasingly pairing stablecoins with card products.

Western Union separately launched its Stablecard program last month with Rain, intensifying competition between the two largest names in cross-border money transfer as both firms race to offer faster, cheaper settlement through digital assets.