Stablecoin infrastructure is gaining momentum in mainstream payments as Moneygram International Inc. and the Stellar Development Foundation (SDF) announced a major expansion of their partnership on April 22, 2026. The agreement, revealed at an industry gathering in Mexico City, outlines a multi-year effort to broaden real-world stablecoin utility using USD Coin (USDC) across key remittance corridors, with an initial focus on Latin America.
From Colombia to El Salvador: Scaling Stablecoin Remittances
Moneygram first launched USDC-based services in Colombia, allowing users to receive funds in a USD-denominated balance, hold digital dollars, or convert to cash. The service has now reached El Salvador, with further expansion planned across Central and South America. Chairman and CEO Anthony Soohoo stated on social media platform X: "Five years ago, we started turning stablecoins into real-world money infrastructure for the billions of people without access to traditional financial services. Colombia was the first market. Today, we are bringing this to El Salvador, with many more markets across the world to follow this year."
Speaking at the event, Soohoo emphasized: "Everyone talks about financial inclusion. Moneygram is delivering it. We are building an open payments network that moves seamlessly across fiat and stablecoin, enabling faster, lower-cost transactions, starting with the people who need it most."
Technical Architecture: Stellar, Circle, and Crossmint Collaboration
The system operates on the Stellar blockchain, leveraging USDC issued by Circle and developer tools from Crossmint to enable near-instant settlement. Users can flexibly withdraw cash across Moneygram's global network spanning more than 200 countries and territories. Since the initial partnership in 2021, the two entities have developed a developer-facing API and one of the largest on/off-ramps for digital assets, addressing demand from cash-reliant populations dependent on remittances.
Denelle Dixon, CEO of the Stellar Development Foundation, explained the vision: "Together, we’re expanding access, lowering costs and enabling instant cross-border payments at scale, delivering the power of blockchain in ways that are seamless and intuitive for customers." She added that the partnership reflects continued efforts to integrate blockchain infrastructure into mainstream financial services while improving transaction efficiency for underserved regions.
Market Implications: Stablecoin Remittances Set to Reshape Industry
The expansion comes amid rapid growth in the global stablecoin market, with blockchain-based remittances emerging as one of the most promising real-world use cases. According to World Bank data, Latin America and the Caribbean received over $160 billion in remittances in 2025, yet traditional channels often charge high fees and suffer from slow settlement times. Moneygram's move to deepen stablecoin integration could pressure traditional money transfer operators to adopt similar technology. Industry analysts note that the lower cost and near-instant finality offered by stablecoin rails are particularly attractive for cash-reliant economies. As more payment firms follow this model, the conventional remittance landscape may face a structural shift.