The year 2025 is shaping up to be a decisive milestone for the growth and adoption of stablecoins well beyond the cryptocurrency ecosystem. The latest development in this dynamic involves MoneyGram and its “next-generation” money transfer app.
MoneyGram reinvents cross-border finance
Since their creation, stablecoins have mainly been used to hedge trading positions against the volatility of the cryptocurrency market, while avoiding capital gains tax. However, they are capable of serving many monetary use cases, sometimes much more effectively than traditional currencies.
This situation is particularly evident in countries that impose monetary determinism that is unfavorable to their local populations, with currencies unable to withstand rampant inflation. This is undoubtedly why MoneyGram chose Colombia to launch its new stablecoin-powered payment app.
Indeed, MoneyGram executives see this country as “the ideal launch market” to test its new cross-border finance model. And with good reason, as “families receive more than 22 times the money they send abroad” due to a constantly falling exchange rate against the US dollar.
MoneyGram is known for applying a high exchange rate margin to cross-border transactions. Perhaps its “next-generation” app will change the game, mainly due to its announced support for Circle’s USDC stablecoin?
Global access to stablecoins
From a technical standpoint, this new MoneyGram feature is based on the Stellar (XLM) blockchain, “designed for fast, low-cost, real-world payments,” as well as the Crossmint crypto wallet service for storing funds.
This service will allow MoneyGram users to instantly receive and hold funds in their app, while benefiting from “the world’s most stable currency” in the form of Circle’s USDC stablecoin, as well as being able to claim returns on their deposits in the near future.
This is the direction MoneyGram—and money itself—is heading. We believe in a future where financial access is universal and no one is left behind. Designed for global scale, this launch is the first step toward a world where everyone, everywhere, has access to dollar-pegged stablecoins.
Anthony Soohoo, CEO of MoneyGram
According to MoneyGram CEO Anthony Soohoo, his company currently has 500,000 service points around the world, powered by more than 2,000 transfer corridors.
The launch of its “next-generation” app should simplify access to its cross-border services for its customers, while also taking advantage of the favorable regulatory environment created by the recent adoption of the GENIUS Act in the United States.
Because “stablecoins are truly the revolutionary application of crypto, and I think we are only beginning to explore all the possibilities they offer.”
