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MoneyGram Partners With Stellar Development Foundation

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MoneyGram is driving the development of P2P (peer-to-peer) digital payments.

MoneyGram Online is a direct digital business, a worldwide network of retailers, and an upcoming activity of integrated financing for businesses. MoneyGram has expanded to serve nearly 150 million people globally over the previous five years with a strategy focused on mobilizing the flow of money, the culture of innovation in financial technology, and customer-centric capabilities.

Established in 2014, the Stellar Development Foundation (SDF) helps to maintain Stellar’s codebase, supporting the business and technical communities building on the backbone, and serving as a strong collective voice for the regulators and other institutions.

The SDF is a nonprofit organization supporting the continued expansion and growth of Stellar, an open-source network connecting the worldwide financial infrastructure.

The two companies announced their partnership to enable cash funding and payout in local currency for consumers using Circle’s USD Coin (USDC), and lightning-fast backend settlement capabilities. This will allow easier trade of USDC for cash, or cash for USDC, increasing the possibilities on the market and enabling more consumers to join the digital economy.

CEO and Executive Director of the Stellar Development Foundation, Denelle Dixon, explained, “This partnership is a shining example of how blockchain technology and stablecoins bring new opportunities to global customers and enhance the existing financial system. Thanks to the reach of MoneyGram’s services and the speed and low cost of transactions on Stellar, a new segment of cash users will be able to convert their cash into and out of USDC, giving them access to fast and affordable digital asset services that may have previously been out of reach. We’re pleased to team up with MoneyGram to drive toward our mission of creating more equitable financial access.”

Learn more about MoneyGram here: http://global.moneygram.com

Learn more about Stellar Development Foundation here: https://www.stellar.org/foundation

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