Moneygram, the global remittance giant serving over 50 million users across 200 countries, has officially integrated stablecoins into its cross-border payment operations in Latin America. In collaboration with wallet infrastructure firm Crossmint, the company is launching a new app that leverages USDC to provide instant, low-cost international transfers and digital dollar savings.
Stablecoin-Powered App: Features and Technology
The revamped app introduces a built-in self-custody wallet powered by Crossmint, allowing users to receive and hold USDC directly. Unlike Moneygram’s previous model, where funds had to be cashed out in local fiat currencies, the new app enables users to save in digital dollars—a critical feature in high-inflation economies across Latin America. Transactions are processed on the Stellar network, known for its low fees and high transaction throughput, significantly reducing costs for both users and the company.
The app offers real-time notifications for international transfers and plans to expand beyond Colombia to other markets later this year. Additional features include the ability to deposit cash into the wallet through authorized agents, spend funds via a linked debit card, and earn incentives on deposits.
Strategic Shift and Market Impact
Moneygram, which went private in 2023, has been actively transforming into a fintech company. Chairman and CEO Anthony Soohoo stated, “The potential here is enormous, reshaping how we think about money, payments, and financial infrastructure.” The move comes amid a broader industry shift where stablecoins are disrupting traditional remittance models. According to VanEck’s Head of Digital Assets Research, Matthew Siegel, stablecoin transaction volumes have surged since early 2025, while downloads and active users of legacy remittance apps have declined sharply. This trend underscores the urgency for incumbents like Moneygram to innovate.
Latin America: A Hotbed for Stablecoin Adoption
Latin America has emerged as a leading region for stablecoin usage, driven by currency instability and high remittance inflows. Countries like Venezuela, Argentina, and Colombia have seen rapid adoption of digital dollars as both a store of value and a payment rail. Moneygram’s integration of USDC is expected to further accelerate financial inclusion by providing a secure, efficient alternative to traditional banking and cash-based remittances.
By partnering with Stellar and Crossmint, Moneygram positions itself at the forefront of the stablecoin revolution, offering a seamless bridge between fiat and digital currencies. The success of this initiative could serve as a blueprint for other remittance companies seeking to adapt to the evolving payments landscape.