NewsMV
MoneyGram will collaborate with Signify Holdings, which does business as Rain, to issue a digital payments card that allows users to hold stablecoins, access cash, and make payments through Visa's network, the company announced in a press release dated Sept.
The card will initially be available in Colombia, with plans to expand to other countries, and customers will be able to add it to Apple or Google wallets.
A physical version of the card is scheduled to launch before the end of the year.
The new product is built directly into the MoneyGram app and is backed by stablecoins rather than traditional bank accounts or fiat-currency balances, a company spokesperson said by email.
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