Moneygram, a global remittance giant serving over 50 million users across 200 countries, has unveiled a new mobile application that integrates stablecoins into its cross-border payment infrastructure. The app, built on the Stellar network, allows users to send, receive, and hold USDC in a self-custody wallet provided by Crossmint, marking a significant shift from traditional cash-out models.
Stablecoin Integration Transforms Remittances
The new app replaces the previous mandatory local currency cashouts with the ability to save in digital dollars—a feature particularly valuable in high-inflation or dollarized economies across Latin America. Users can instantly transfer funds with real-time notifications, add cash at affiliate locations, spend using a linked debit card, and earn deposit incentives. This move positions Moneygram closer to a full-fledged fintech platform, capitalizing on the growing demand for stablecoin-based financial services.
Stellar Network Powers Cost Efficiency
Behind the scenes, the app operates on Stellar, a low-cost, high-performance blockchain that significantly reduces transaction fees. Crossmint’s wallet infrastructure ensures user self-custody while simplifying onboarding. Anthony Soohoo, Chairman and CEO of Moneygram, stated: “The potential here is enormous, reshaping how we think about money, payments, and financial infrastructure.” Since going private in 2023, Moneygram has aggressively pursued fintech transformation, and stablecoins are now central to that strategy.
Market Rollout and Industry Impact
Colombia is the first market to receive the upgraded app, with expansion to other Latin American countries planned later in 2026. The launch comes amid data from VanEck’s Head of Digital Assets Research, Matthew Siegel, showing that downloads and active users of traditional remittance apps like Moneygram dropped sharply in January 2025 while stablecoin volumes soared. Stablecoins are increasingly viewed as a “killer app” in payments, directly threatening legacy business models. By embedding USDC support, Moneygram aims to retain customers who are pivoting to digital currencies, while tapping into new use cases for unbanked and underbanked populations.