MoneyGram Taps Crossmint to Launch Dollar-Backed Remittance App in Colombia
Highlights:
- MoneyGram has launched a USDC remittance app in Colombia as the peso weakens.
- MoneyGram tapped Crossmint to integrate digital wallets and compliance tools into its new stablecoin service.
- Tether remains the leading stablecoin in Colombia through Binance P2P and Tron despite MoneyGram’s USDC rollout.
MoneyGram has introduced a new digital payments app in Colombia that enables users to save and transfer funds using the USDC stablecoin. The service launches at a time when the Colombian peso is weakening against the U.S. dollar. The weak local currency has created demand for more stable storage options. MoneyGram’s app runs on the Stellar network and uses Crossmint’s infrastructure to support instant transfers and self-custody.
MONEYGRAM TO LAUNCH USDC-POWERED STABLECOIN APP WITH BLOCKCHAIN SETTLEMENT
MoneyGram is developing a stablecoin app powered by USDC that will use blockchain technology for settlement, aiming to streamline cross-border payments and reduce transaction costs. pic.twitter.com/F1w0s2hMEW
— Crypto Town Hall (@Crypto_TownHall) September 17, 2025
Users can receive remittances directly as USDC instead of withdrawing cash at physical locations using the app. According to the company, this reduces the need for Colombians to visit stores repeatedly to access funds. Instead, users only need to exchange their digital dollars when converting them into pesos for everyday spending.
MoneyGram Taps Crossmint for Digital Wallet Integration
MoneyGram collaborated with Crossmint to offer wallet services, compliance, and settlement infrastructure in its new platform. The APIs of Crossmint enable Colombian users to convert and store USDC instantly and transfer money in seconds with high reliability. With this integration, recipients can store funds, withdraw pesos at more than 6,000 local outlets, or keep their digital dollars as savings.
The company explained that its future plans include linking Visa or Mastercard debit cards, which would allow global spending directly from USDC balances. Incentives on deposits may also arrive in upcoming updates, creating another option for families seeking financial stability. “Crossmint has been instrumental in accelerating our stablecoin strategy,”said Josh Bivins, Director of Product at MoneyGram. He added that the collaboration reduced reliance on multiple vendors and simplified the entire rollout process.
MoneyGram chose Colombia because remittance inflows remain a critical part of its economy. Figures show families in Colombia receive over twenty times more money than they send abroad. By targeting this segment, MoneyGram aims to connect digital asset storage with practical local use cases.
The participation of Crossmint guarantees that all the transfers are done in compliance with the anti-money laundering and identity checks and offers a smooth user experience. The platform is also compatible with minting, tokenization, and payouts, which allows MoneyGram to operate fast without recruiting blockchain experts.
Colombia’s Competitive Stablecoin Market Landscape
Tether is still the leading stablecoin in Colombia despite the recent launch by MoneyGram. Most residents like to transfer USDT via the peer-to-peer Binance network or applications like El Dorado. USDT activity is high on the Tron network due to its low transaction fees and rapid settlement rates.
The adoption of Bitcoin has decreased, and the number of merchants accepting BTC has decreased by 106 to 62 this year. Some of the businesses that shut down their services include MIND Crypto Caffe Medellin, which was a popular place in the tourist neighborhood of El Poblado. Despite the decrease in merchants, Colombia ranks fifth in Latin America in crypto adoption.
Latin America is leading global #Bitcoin and #Crypto adoption in 2025
Regional adoption surged 63%, outpacing the rest of the world.
🔹 Chainalysis LATAM Top 5:
1️⃣ Brazil (#5 globally)
2️⃣ Venezuela (#18 globally)
3️⃣ Argentina (#20 globally)
4️⃣ Mexico (#23 globally)
5️⃣ Colombia… pic.twitter.com/GKcDVX2CIg— CryptoRob (@estovaderelojes) September 6, 2025
The arrival of MoneyGram brings new rivalry to the arena already dominated by reputable Bitcoin exchanges such as Binance and Tron-based transfers. The company aims to close the gap between digital and real-world solutions in Colombia by providing USDC on a global payments app.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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