One card, putting a remittance company and stablecoins on the same piece of plastic. MoneyGram has announced the launch of its first Visa card pegged to stablecoins, a product co-developed with crypto payments infrastructure firm Rain, debuting in Colombia.
That's about all the public details for now: the card format, the partner involved, and the first country to launch in. As for which stablecoin backs the card, how exchange rates are calculated, or where consumers can use it to make purchases, neither MoneyGram nor Rain has provided further explanation.
MoneyGram, originally a cross-border remittance business, is now extending its reach into stablecoin-backed payment cards. The fact that both product lines—cards and remittances—now coexist is the only thing this piece of news makes certain for now.
