Traditional payment behemoths are deepening their ties with digital assets as MoneyGram announces plans to build its own stablecoin and Visa reveals a large-scale stablecoin settlement pilot. The moves signal a significant shift toward blockchain-powered payments, leveraging the infrastructure and customer bases of established financial players.
MoneyGram, with over 25 years of experience in international peer-to-peer payments, intends to launch a proprietary stablecoin that integrates fiat on-ramps and off-ramps. The company, which serves 60 million active customers across more than 200 countries and operates a robust KYC framework, aims to let users store, spend, and earn rewards seamlessly. The stablecoin will build on MoneyGram’s existing infrastructure, enhancing liquidity and accessibility for cross-border transfers.
Meanwhile, Visa’s stablecoin settlement pilot is already processing transactions at a $7 billion annualized rate across nine blockchains. The program allows issuers and acquirers to settle using blockchain-based stablecoins such as USDC, improving speed and efficiency. Mastercard is similarly expanding its stablecoin settlement capabilities for partners, underscoring a broader industry trend where payment networks embrace crypto-native rails.
These initiatives come at a time of mixed momentum in crypto markets, but institutional adoption of stablecoins could reshape transaction processing. By embedding compliance measures like KYC directly into their payment flows, both MoneyGram and Visa are positioning themselves to compete with neobanks and drive real-world utility for digital currencies.
