MoneyGram is launching a new digital payments app in Colombia that allows people to use the USDC stablecoin for savings and transfers. This service, built on the Stellar network, aims to help Colombians cope with the weakening local currency, the peso, which has fallen significantly against the U.S. dollar.
How the Service Works
The new app lets users receive and store funds in USDC, providing a more stable alternative to the volatile Colombian peso. This means they no longer have to visit a physical MoneyGram location to pick up cash, and can instead keep the money in a digital wallet. The app uses Crossmint for secure, self-custody storage. Users will only need to go to a MoneyGram store when they want to convert their USDC back into pesos for spending.
Colombia is considered an ideal market for this launch because the country receives far more money in remittances than it sends out. In the future, MoneyGram also plans to offer incentives and savings programs to users who keep deposits in the app.
The Stablecoin Landscape in Colombia
While MoneyGram is introducing USDC, the article notes that Tether (USDT) remains the dominant stablecoin in Colombia. Local users often favor USDT for peer-to-peer transfers, primarily through platforms like Binance and El Dorado P2P. The Tron network is particularly popular for these transfers due to its speed and low costs.
September 2025, Cryptoniteuae
