MoneyGram’s digital funds app is ready to launch in Colombia, providing locals a solution 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 practically immediately.
In a press release on Wednesday, MoneyGram stated Colombia is the “superb launch market” as Colombian households obtain greater than 22 instances the cash they ship overseas.
“For hundreds of thousands of individuals all over the world, sending cash throughout borders is a lifeline: supporting family members again dwelling, protecting necessities like meals, housing and training, and enabling investments in companies and long-term monetary stability. ”
Say hey to a brand new solution to obtain cash
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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 mixing will save locals the necessity to enter MoneyGram’s bodily shops to obtain funds and decide up the bodily money, as they will now retailer it as USDC within the app.
This provides them a extra steady foreign money to retailer their funds, as Colombian pesos have fallen practically 12% towards the greenback since early April, Google Finance knowledge exhibits.
Customers will solely have to attend MoneyGram places after they need to swap the USDC for Colombian pesos and withdraw it for spending.
MoneyGram additionally famous that customers might be able to earn incentives on deposits by its built-in financial savings choices within the close to future.
MoneyGram’s crypto service is launching on the Apple App Retailer and Google Play Retailer, although Colombians should first be part of a waitlist to have their accounts accredited.
Associated: Bitwise information for stablecoin, tokenization ETF with US SEC
The Western Union competitor has 500,000 retail places all over the world, and claims to have greater than 5 billion “digital endpoints,” making it one of the accessible digital fee networks on the 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 native crypto exercise, significantly through crypto change Binance’s peer-to-peer platform.
El Dorado P2P is one other generally used app in Colombia that enables customers to switch USDT on Tron, Garcia famous.
The USDT provide on the Tron community surpassed $80 billion in June, with its quick, low-cost transfers making it a perfect choice for sending digital {dollars} in creating nations
Variety of Bitcoin retailers has fallen in Colombia
BTCMaps knowledge exhibits that the variety of retailers 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 positioned within the coronary heart of El Poblado, Medellín’s most touristy neighborhood, with pictures from Might 2024 on X exhibiting the area being dismantled.
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