MoneyGram Launches USDC-Powered Remittance App in Colombia

USDC News - MoneyGram has launched a mobile application in Colombia that utilizes USD-pegged stablecoins to streamline cross-border payments. The app, built on the stellar blockchain with Crossmint's infrastructure, enables instant USDC settlements—providing recipients with a hedge against local currency volatility. Colombia's selection as the pilot market reflects its lopsided remittance economy, where inbound transfers dwarf outbound flows 22:1. MoneyGram's 500,000 global retail locations will serve as off-ramps for converting stablecoin balances to cash. This move accelerates MoneyGram's blockchain ambitions since its 2021 Stellar partnership, having previously developed crypto APIs and stablecoin settlement systems. CEO Anthony Soohoo stated, "This is the first step toward universal access to dollar stablecoins."