Moneygram Launches Stablecoin App With USDC Wallet in Colombia

Moneygram is pushing further into fintech with the launch of a new app that brings stablecoins into its global remittance business. The move highlights how one of the largest cross-border payment platforms is leaning on blockchain to cut costs and offer users new flexibility.

Good to Know

• The new app supports USDC stablecoins through a wallet powered by Crossmint.
• Stellar network underpins the system, reducing transaction fees.
• Colombia will be the first market before a broader global rollout later this year.

Traditionally, Moneygram customers had to cash out in local currency. With the new app, users can now hold USDC directly in a self-custody wallet. That option could be especially valuable in economies where stable savings in U.S. dollars help protect against inflation and currency swings.

The wallet integration comes through Crossmint, a payments and infrastructure company, while Stellar provides the blockchain rails for faster, low-cost transactions. Users also receive real-time notifications, adding transparency to cross-border transfers.

The app isn’t only about stablecoin transfers. Users will soon be able to deposit cash through affiliates, spend funds with a linked debit card, and even earn rewards on deposits. Moneygram plans to use Colombia as the testing ground before expanding the service to additional countries later in 2025.

Anthony Soohoo, Chairman and CEO at Moneygram, said the changes align with its broader transition into fintech:

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

A Shift Since Going Private

Moneygram went private in 2023 and has since leaned into digital-first products. With more than 50 million customers in 200 countries, the company sees stablecoins as a powerful tool to modernize remittances. By cutting out multiple intermediaries and enabling USDC storage, the app promises lower fees and faster payments, something traditional banking infrastructure has long struggled to deliver.