MoneyGram has launched a new mobile app powered by Circle’s USDC stablecoin on the Stellar blockchain, marking a step toward practical stablecoin adoption in cross-border payments. The rollout begins in Colombia, where the app offers a dollar-backed digital account to help users protect their savings against the peso’s steep decline.
The initiative, announced on September 17, 2025, aims to give people in emerging markets a reliable and regulated way to store value in a stable currency. Wallet infrastructure is provided by Crossmint, while Stellar serves as the blockchain backbone. Luke Tuttle, MoneyGram’s Chief Product and Technology Officer, said the company is focused on bringing “real stablecoin utility” to customers in a safe and compliant manner.
Colombia was chosen as the first market due to its heavy reliance on inbound remittances and the sharp depreciation of its local currency. In the last four years, the Colombian peso has lost more than 40% of its value against the United States dollar. With over 6,000 MoneyGram locations across the country, the company expects its network to make the transition to stablecoin-backed accounts accessible to everyday users.
Anthony Soohoo, the CEO, described stablecoins as a transformative force, calling them “the killer app for crypto” and stressing that real-time settlement and wealth preservation are what customers need most. By combining its global reach with blockchain-based infrastructure, MoneyGram hopes to accelerate stablecoin adoption and give millions of people a safeguard against unstable economies.
