💸 MoneyGram Bets Big on Stablecoins for Latin America

From cash pickups to digital dollars. MoneyGram just launched a stablecoin-powered remittance app in Colombia, running on USDC + Stellar with Crossmint wallets. It’s the legacy remittance giant’s boldest fintech pivot yet — aiming to cut costs, hold on to users migrating to stablecoins, and stay relevant in a blockchain-first world.

⚡ Quick Hits

• 🏦 Company: MoneyGram (50M+ users, 200 countries)
• 💵 New feature: USDC in a self-custody wallet
• 🌐 Network: Stellar blockchain
• 🇨🇴 Debut market: Colombia → wider LatAm rollout in 2025
• 🔑 Partner: Crossmint (wallet provider)
• 🛒 Extras: instant transfers, debit card spending, cash deposit access, adoption incentives

🚀 Why It Matters

MoneyGram has long been the king of cash-to-cash remittances, but user behavior is shifting. People in unstable economies increasingly prefer digital dollars over local fiat. Stablecoins are already the go-to for remittances in LatAm — faster, cheaper, safer.

By embracing USDC on Stellar, MoneyGram gets:

• ⏱️ Near-instant transfers (vs multi-day wires)
• 💸 Lower costs (no bloated remittance fees)
• 🔐 User control (self-custody instead of mandatory conversion to pesos)

CEO Anthony Soohoo summed it up:

“The potential here is enormous, reshaping how we think about money, payments, and financial infrastructure.”

📲 How It Works

1. Receive & hold USDC in a built-in Crossmint wallet.
2. Send instantly over Stellar — cheap and fast.
3. Cash in/out via MoneyGram’s affiliate network.
4. Spend directly with linked debit cards.
5. Get rewarded with deposit incentives for early adopters.

It’s stablecoins with a Web2-friendly UX — no MetaMask needed.

🌎 Market Context

Stablecoins are the killer app for crypto in emerging markets:

• Adoption: soaring across remittance corridors.
• VanEck’s Matthew Siegel: “Stablecoin volumes are exploding, while apps like MoneyGram saw usage dip earlier this year.”
• Competitive edge: MoneyGram is now racing fintech challengers (Strike, Bitso, PayPal) with its mix of trust + rails + brand recognition.

🔮 Bigger Picture

This isn’t just about Colombia — it’s a blueprint for LatAm finance:

• Legacy players like MoneyGram are morphing into stablecoin bridges.
• Users preserve value in digital dollars, not hyperinflated pesos or bolívares.
• Remittances shift from an 18-fee model to instant, tokenized flows.

The playbook is clear: stablecoins eat remittances, and MoneyGram wants a seat at the table.

⚡ TL;DR

MoneyGram is going crypto-native. Its new app uses USDC on Stellar with Crossmint wallets, starting in Colombia. Stablecoins slash costs, boost speed, and let users hold digital dollars directly. If adopted widely, MoneyGram could reinvent itself from a cash-transfer dinosaur into a bridge between fiat and the blockchain economy.