Stablecoins Turn MoneyGram Into More Than a Cash Counter

MoneyGram said on October 19 that customers in the United States can send money directly to MoneyGram app users in markets including Colombia and El Salvador, listing app users as a delivery option alongside bank accounts, debit cards, third-party wallets and retail pickup. The redesigned app and website combine transfers, dollar balances in select markets, bill payments, mobile top-ups and cash access, with support in 40 languages. MoneyGram launched its MGUSD stablecoin on June 2 on Stellar, issued by Bridge, and introduced a stablecoin-backed Visa card in Colombia on September 10. The company has not disclosed which token backs balances outside the US or the full list of markets offering dollar balances.