MoneyGram taps Rain for a stablecoin card pilot in Colombia, with Visa rails and physical cards due by year-end

MoneyGram is moving stablecoins from the abstract “digital currency strategy” bucket into something customers can actually hold, spend, and cash out. For high-risk PSPs, the interesting part is not the crypto branding — it’s the distribution setup: stablecoin balances, Visa network access, Apple and Google wallets, and an eventual plastic card.

1. MoneyGram will work with Signify Holdings, which does business as Rain, to build a digital payments card that lets users hold stablecoins, access cash, and make payments through Visa’s network, according to a Sept. 10 press release.
2. The card will initially launch only in Colombia. MoneyGram said it plans to expand the product to other countries later, but the release does not name them.
3. Customers will be able to add the card to Apple Wallet or Google Wallet, and MoneyGram also said it plans to issue a physical card option before the end of the year. That matters because the company explicitly said the physical card will let users withdraw cash at ATMs and make in-person purchases where digital cards are less widely accepted.
4. The move fits a broader stablecoin push after passage of the Genius Act last year, which created a regulatory framework for their use. In practical terms, that is what turns stablecoins from a treasury-side curiosity into a consumer payments rail that PSPs can package for specific markets.
5. MoneyGram is an 85-year-old cross-border payments company operating in 200 countries and territories, and CEO Anthony Soohoo has been pushing to modernize the business since becoming CEO in 2024. The company was bought in 2022 by Madison Dearborn Partners in a $1.8 billion acquisition.

MoneyGram’s rival Western Union is also working with Signify Holdings, aka Rain, on new digital currency ventures. When two cross-border incumbents use the same stablecoin partner, that usually tells you where the plumbing is headed: not just crypto exposure, but card issuance, wallet distribution, and cash-out functionality wrapped around stablecoin balances.