MoneyGram is launching a new mobile app in Colombia that allows people to easily receive, store, and send money using stablecoins – digital currencies pegged to the US dollar, like USDC.
As a crypto investor, I’m watching this new service closely. It looks like a really interesting bridge between crypto and traditional finance – basically, it lets you hold USD digitally and easily move money in and out using MoneyGram’s network. They’re starting with a test launch in Colombia, and if it goes well, they plan to expand it throughout the region. It could be a game changer for making crypto more accessible and usable for everyday transactions.
Stablecoins Meet Money Transfer Agents
MoneyGram is now using the Stellar blockchain to speed up money transfers and has teamed up with Crossmint to provide digital wallets for its users.
The app handles all the complex blockchain stuff behind the scenes, so you don’t need to worry about private keys or transaction fees.
MoneyGram now has over 6,000 locations in Colombia where people can easily exchange USDC for Colombian pesos, and vice versa.
Say hello to a new way to receive money
The new MoneyGram® app is here! Get international money transfers instantly and receive notifications as soon as they arrive. You can choose to hold your money as digital dollars for more stability, or pick up cash at any MoneyGram location.
— MoneyGram (@MoneyGram) September 17, 2025
Why Some People Might Use It
The Colombian peso has significantly decreased in value – losing more than 40% recently. This loss of purchasing power is a key reason why many Colombians are turning to currencies linked to the US dollar to preserve their savings.
This app lets you receive money in USDC almost immediately, which could be much faster than traditional money transfers.
You’ll be able to get your money in pesos at MoneyGram locations. Plus, the company is working on card features that will allow users to spend US dollars when traveling abroad.
Regulatory Questions Remain
Recent reports show that how this product is launched and used will be heavily influenced by regulations and rules designed to verify identities and prevent money laundering.
Colombia is still developing clear rules for stablecoins, and it’s currently unclear exactly how those rules protect USDC balances held by users. This lack of clarity could impact things like how much USDC people can send, what information needs to be reported, and any associated costs.
What Users Should Watch For
The initial announcements didn’t clearly explain all the fees involved with exchanging USDC for pesos, including commissions paid to agents and any costs for withdrawing money.
It’s also important to consider how easily USDC can be bought and sold, and how well it maintains its intended value. Although stablecoins like USDC are designed to be worth a stable amount, like one US dollar, things like the assets backing them, how much is available to trade, and overall market conditions can sometimes cause its value to fluctuate.
MoneyGram is starting with limited features initially. While they plan to add debit card spending in US dollars and rewards for deposits later, these won’t be available when the service first launches.
The company says its app lets people have more control over their money and how they transfer it, even if they don’t understand cryptocurrency.
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2025-09-18 17:24