MoneyGram Launches Visa Card That Spends USDC; Chooses Circle Over RLUSD
MoneyGram has launched a new Visa card that allows customers to spend USD Coin (USDC) at any merchant accepting Visa, starting in Colombia. The product is built on infrastructure from Rain for issuance and Crossmint for wallet technology, with Stellar handling settlement. This marks MoneyGram's first major move into direct consumer spending using stablecoins. The decision to use Circle’s USDC instead of Ripple’s RLUSD has drawn attention due to the historical partnership between MoneyGram and Ripple, which dissolved in 2021 amid legal challenges involving the SEC against Ripple. While not a confirmed rejection of RLUSD, it highlights trust in Circle's compliance framework and liquidity presence in Latin America. The card is currently available as a digital option within the MoneyGram app, with plans to introduce physical cards and ATM withdrawals later this year.
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