MoneyGram Announces Partnership with the Stellar Development Foundation

MoneyGram, the global digital P2P payments giant announces partnerships with Stellar Development. The partnerships will enable to use of USDC for instant and cheaper transactions.

According to the official press release “MoneyGram’s network, integrated with the Stellar blockchain and facilitated through Circle‘s USD Coin (USDC), will enable cash funding and payout in local currency for consumers using USDC, as well as near-instant backend settlement capabilities.”

Also, according to the press release, “for the first time, settlement with MoneyGram will occur in near-real-time using Circle’s USDC, the world’s fastest-growing dollar digital currency.”

Alex Holmes, MoneyGram Chairman and CEO says, “At MoneyGram, one of our top strategic priorities is to pioneer cross-border payment innovation and blockchain-enabled settlement, and we’re thrilled to now work with the Stellar Development Foundation to further our efforts.”

Denelle Dixon, the CEO and Executive Director of the Stellar Development Foundation, “This partnership is a shining example of how blockchain technology and stablecoins bring new opportunities to global customers and enhance the existing financial system.”