MoneyGram Launches Stablecoin-Powered App in Colombia

MoneyGram, the global leader in money transfers, has rolled out a revamped mobile app built on blockchain technology and U.S. dollar-pegged stablecoins. The company announced that customers in Colombia, where it operates over 6,000 retail locations, will be the first to use the app to receive and store stablecoin payments. Expansion to other markets is expected soon.

Colombia was chosen as the launch market due to its high volume of inbound remittances and economic instability. Families receive more than 22 times the money they send abroad, while the Colombian peso has lost over 40% of its value in the past four years. By leveraging digital assets, MoneyGram aims to offer Colombians access to a stable currency and real-time settlement.

CEO Anthony Soohoo described stablecoins as the “killer app for crypto,” comparing their potential to the impact of the spreadsheet, web browser, and GPS. He noted that the passage of the U.S. GENIUS Act provides a clear regulatory framework, making it easier for companies like MoneyGram to scale adoption.

The new app is powered by Circle’s USDC stablecoin, the Stellar blockchain for fast and low-cost transactions, and Crossmint’s wallet infrastructure. This combination enables secure, efficient, and user-friendly payments while bridging the gap between cash and digital money.

MoneyGram already operates nearly 500,000 cash pickup and transfer locations across more than 20,000 corridors worldwide. With this move, it is reinforcing its position as the largest cash on- and off-ramp for cryptocurrencies. Soohoo emphasized that while many fintech firms are limited to regional markets, MoneyGram’s trusted global brand gives it an edge in driving blockchain-based remittances forward.