MoneyGram Launches Visa Stablecoin Debit Card to Rival Western Union

MoneyGram has unveiled a Visa-branded stablecoin debit card, intensifying competition in the blockchain-based remittance market just weeks after rival Western Union announced a similar product. The MoneyGram Card will debut 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. The company is partnering with infrastructure provider Rain to power the card—the same provider working with Western Union on its Stablecard, announced last month.

The launch builds on MoneyGram's accelerating push into digital assets. In June, the company launched its MGUSD stablecoin on the Stellar network, integrating it with its proprietary app through a self-custodial wallet. Last month, MoneyGram expanded its crypto on-ramps by linking with a Solana wallet, signaling a multi-chain approach to cross-border payments infrastructure. These moves position MoneyGram alongside a growing roster of traditional financial firms embracing stablecoins for everyday transactions.

The strategic timing reflects a broader industry shift. The World Bank's September 2025 analysis of remittance costs identified stablecoins as a key tool for reducing the expense of cross-border money transfers, with debit cards emerging as the lowest-cost receiving instrument at just 3.61% of the transmitted amount. By launching a stablecoin-backed card, MoneyGram aims to capture cost-conscious remittance users across Latin America and beyond.

The announcement comes amid wider institutional momentum in stablecoin adoption. Separately, US Bank recently tested its own proprietary stablecoin in a cross-border Stellar transaction, while Coinbase and payment infrastructure firm Moov announced a partnership to deliver stablecoin services to US community banks. A trio of former central bankers, including a former Bank of England deputy governor, also joined Fnality, a bank-led digital settlement platform. Together, these developments signal that stablecoins are moving from crypto-native experimentation into mainstream financial rails.