MoneyGram has collaborated with Rain, Crossmint, and Stellar to launch a stablecoin-backed card that can be used wherever Visa is accepted.
The card allows users to hold a stable-dollar balance, withdraw cash, and spend at merchants across borders, both online and in physical stores.
Integration with the existing MoneyGram experience
The card is designed as an extension of MoneyGram’s existing money transfer services rather than a standalone product. Customers can sign up for the card within the MoneyGram app and manage their balance and spending activity in the same interface used for transfers. The company has stated that the aim is to connect the process of receiving money with the ability to manage and spend it, without users needing to leave the MoneyGram ecosystem.
The card can be added to Apple Wallet or Google Wallet, enabling contactless payments and online checkout. Additionally, customers can transfer funds from their MoneyGram balance and collect local currency in cash at MoneyGram retail locations.
Development partners and infrastructure
The MoneyGram Card has been developed in partnership with Rain, a provider of infrastructure for stablecoin-powered card payments. According to MoneyGram, the card combines Rain’s card foundation with wallet capabilities from Crossmint and settlement via the Stellar network, intended to support fast and immediate access to funds.
MoneyGram states that the launch builds on the scale of its existing network. The company operates in more than 200 countries and territories, supported by close to 500,000 retail locations and a digital network the company describes as reaching billions of endpoints.
