Crossmint Partners with MoneyGram for USDC Remittances in Colombia
TLDR
- Crossmint enables MoneyGram’s new stablecoin payment app for cross-border transfers.
- The new app allows USDC transfers from the US to Colombia, boosting financial inclusion.
- MoneyGram offers USDC savings and Visa-linked spending for Colombian users.
- The collaboration simplifies cross-border payments with enterprise-grade blockchain tech.
MoneyGram, a global leader in remittance services, launched its stablecoin-powered cross-border payment system. This service, which leverages Crossmint’s advanced wallet infrastructure, enables users to send funds across borders using USDC (USD Coin). The new offering marks a significant shift from traditional remittance services to blockchain-powered transactions, providing customers with faster, cheaper, and more secure transfers.
The launch targets the Colombian market as its first key corridor, with plans to expand to other Latin American regions. The partnership allows U.S. senders to transfer funds in US dollars, which are converted to USDC and received instantly by recipients in Colombia. This service is part of MoneyGram’s ongoing evolution from a traditional financial service provider to a global, decentralized payment network.
Enhancing Financial Accessibility in Colombia
The partnership between Crossmint and MoneyGram has specific benefits for Colombian recipients, where financial inclusion is an ongoing challenge. By using the new MoneyGram app, Colombian users can receive USDC, a stablecoin pegged to the U.S. dollar, offering a more reliable store of value compared to the Colombian peso.
In an environment where the peso has depreciated nearly 12% against the U.S. dollar since early 2025, this service offers a hedge against currency instability. Additionally, users can access MoneyGram’s network of over 6,000 locations across Colombia to convert their USDC into Colombian pesos when needed.
The app also provides users with the option to store funds in USDC, helping to protect against local inflation, and spend globally through linked Visa or Mastercard debit cards. Upcoming features will allow users to earn incentives on their USDC deposits, further expanding the app’s utility for Colombian families.
Crossmint’s Technology Behind the Innovation
Crossmint’s role in this new service is essential. The platform offers an end-to-end wallet infrastructure, allowing MoneyGram to manage wallet creation, stablecoin transactions, and tokenization seamlessly. Crossmint’s technology simplifies blockchain complexity for both institutions and consumers, with an easy-to-use interface. This eliminates the need for blockchain engineers or dealing with the complexities of managing private keys, gas fees, or transaction validation.
“Crossmint has been instrumental in accelerating our stablecoin strategy. Their enterprise-grade platform allowed us to move quickly, cut out multiple vendors, and bring this product to market faster,” said Josh Bivins, Director of Product at MoneyGram. “The simplicity and efficiency of Crossmint’s solution made it easy for us to offer a cross-border payment experience that’s secure, fast, and accessible.”
The service uses a robust, future-proof wallet architecture, ensuring that MoneyGram can scale its operations across multiple countries. Crossmint’s support for over 50 blockchains, along with its compliance with SOC 2 standards, ensures that the platform is secure and fully compliant with regulations.
Revolutionizing Cross-Border Payments
MoneyGram’s new stablecoin service addresses several challenges in traditional remittance systems. Cross-border payments, particularly to developing countries, often involve high fees and long processing times. By leveraging stablecoins and blockchain technology, MoneyGram is able to provide a more efficient, cost-effective solution.
The app allows U.S. senders to make low-cost transactions directly to Colombian recipients in a matter of minutes. With blockchain technology eliminating intermediaries, users can avoid the traditional high fees associated with bank transfers and other remittance services.
This service aims to democratize cross-border financial transactions and improve the financial system in countries like Colombia, where many people are underbanked and depend on remittances from abroad.
The post Crossmint Partners with MoneyGram for USDC Remittances in Colombia appeared first on CoinCentral.
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