MoneyGram launched a next-generation mobile app featuring a USD-backed stored value account powered by Stellar blockchain and USDC stablecoins, enabling instant cross-border remittances and currency-stable fund storage. The app debuts in Colombia with plans for global expansion.
MoneyGram announced its next-generation mobile app introducing a digital USD-backed stored value account that integrates stablecoins for seamless cross-border payments. Built on Stellar blockchain and powered by Circle's USDC, the app allows users to instantly receive funds, hold them in stable USD, and cash out or spend globally without exchange rate losses. Launching first in Colombia, a major remittance corridor where families receive 22 times more money than they send abroad, the app addresses real pain points: eliminating physical cash pickups, protecting against local currency devaluation, and providing financial access without requiring a bank account. Future features include direct cash deposits via MoneyGram retail locations, global spending with linked debit cards, and savings incentives. MoneyGram has partnered with Stellar Development Foundation and Crossmint since 2021, building the world's largest cash on/off-ramp for digital currencies.