MoneyGram’s digital funds app is about to launch in Colombia, providing locals a technique to save in US greenback stablecoins because the Colombian peso continues to weaken.
MoneyGram’s crypto service is powered by the Stellar community and leverages Crossmint for self-custody, enabling customers to retailer the USDC (USDC) stablecoin and switch it abroad almost immediately.
In an announcement on Wednesday, MoneyGram said Colombia is the “very best launch market” as Colombian households obtain greater than 22 occasions the cash they ship overseas.
“For tens of millions of individuals around the globe, sending cash throughout borders is a lifeline: supporting family members again dwelling, overlaying necessities like meals, housing and training, and enabling investments in companies and long-term monetary stability. ”
Say whats up to a brand new technique to obtain cash 💸📲
Introducing the next-generation MoneyGram® app:
🔔 Immediately obtain worldwide transfers with real-time notifications
💲 Select to transform funds into digital {dollars} for stability, or withdraw money at a MoneyGram location
🔒… pic.twitter.com/E0CIn5QTup— MoneyGram (@MoneyGram) September 17, 2025
The combination will save locals the necessity to enter MoneyGram’s bodily shops to obtain funds and choose up the bodily money, as they will now retailer it as USDC within the app.
This provides them a extra steady forex to retailer their funds, as Colombian pesos have fallen almost 12% in opposition to the greenback since early April, Google Finance data exhibits.
Customers will solely must attend MoneyGram places after they need to swap the USDC for Colombian pesos and withdraw them for spending.
MoneyGram additionally famous that customers might be able to earn incentives on deposits by means of its built-in financial savings choices within the close to future.
MoneyGram’s crypto service is launching on the Apple App Store and Google Play Retailer, although Colombians should first be part of a waitlist to have their accounts authorized.
Associated: Bitwise files for stablecoin, tokenization ETF with US SEC
The Western Union competitor has 500,000 retail places around the globe, and claims to have greater than 5 billion “digital endpoints,” making it one of the accessible digital cost networks on this planet.
USDT nonetheless stablecoin king in Colombia, native says
A member of a Colombian Bitcoin Telegram group, José Luis Garcia, instructed Cointelegraph that Tether (USDT) transfers nonetheless dominate local crypto activity, notably through crypto exchange Binance’s peer-to-peer platform.
El Dorado P2P is one other generally used app in Colombia that permits customers to switch USDT on Tron, Garcia famous.
The USDT supply on the Tron network surpassed $80 billion in June, with its quick, low-cost transfers making it a really perfect possibility for sending digital {dollars} in growing nations
Variety of Bitcoin retailers has fallen in Colombia
BTCMaps information exhibits that the variety of merchants accepting Bitcoin in Colombia has dropped to 62, down from 106 in September 2023.
Among the many most notable departures was MIND Crypto Caffe Medellín, beforehand situated within the coronary heart of El Poblado, Medellín’s most touristy neighborhood. Pictures from Could 2024 on X show the area being dismantled.
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