MoneyGram Partners with Stellar Network

Oct 7

Written By Guest User

Full article by Inigo Vaca found here.

MoneyGram International has partnered with the Stellar Development Foundation to allow users to send money using Circle’s stablecoin USD Coin (USDC).
The financial services company has integrated support with crypto wallets connected to the Stellar Network to access its global retail platform, allowing “near instant backend settlement” account funding and local fiat withdrawals using the USDC stablecoin.
United Texas Bank will serve as the settlement bank to complete processes within established U.S. regulations and requirements.
Alex Holmes, chairman and CEO of MoneyGram stated that “as crypto and digital currencies rise in prominence, we’re especially optimistic about the potential of stablecoins as a method to streamline cross-border payments.”
The partnership is expected to launch by the end of 2021 in select regions, with an expanded international rollout planned in 2022.

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