The Stellar Development Foundation (SDF), behind altcoin XLM, has announced a significant investment in MoneyGram International (MGI). Thus, it solidified a partnership that has been going on for years. The news comes as the culmination of a journey that began long before the formal trade agreement established in 2021. Here are the details…
Altcoin XLM and MoneyGram have been collaborating for a long time.
The roots of this partnership go back to 2019, when the two organizations later started collaborating closely to lay the foundation for MoneyGram Access. The following two years saw remarkable progress as the Stellar network emerged as a powerhouse in the on-off ramp for cash-to-crypto. This advancement has provided users with accessible ways to transition seamlessly between the traditional and digital economies. The partnership’s shared vision and mutual cohesion became evident as both parties explored each other’s operations, fostering an environment of synergy and innovation.
In a statement that resonated with confidence and optimism, a representative from SDF announced that the partnership with MGI exceeded expectations. MGI’s clear vision of digital transformation and outstanding implementation capabilities were the driving force behind SDF’s decision to take a more active role in the company’s future efforts. The most recent development in this evolving narrative is SDF’s role as a minority investor in MGI as a significant result of its recent privatization with Madison Dearborn Partners (MDP). Originating from SDF’s cash treasury rather than the Enterprise Fund for startups, this investment is a pioneering move and a testament to the belief in the joint potential of the two organizations.
Fintech world is evolving
As part of this strategic investment, SDF has secured a seat on MGI’s Board of Directors, symbolizing the culmination of years of collaboration and innovation. This seat, held by a representative of the SDF, joins those from the payments, financial services and tech industries combined with a shared commitment to support MGI’s altcoin strategy. This landmark investment positions SDF to play an important role in MGI’s journey, particularly in the areas of digital expansion and blockchain technology discovery. By contributing to MGI’s efforts, SDF aims to facilitate seamless global transactions.
Moreover, this strategic move marks MoneyGram International’s commitment to evolve into a true digital leader in the fintech space. The company’s alignment with SDF reinforces its commitment to fostering innovation and delivering cutting-edge solutions in the fintech industry. As both the Stellar Development Foundation and MoneyGram International move into this new phase of their partnership, the fintech world will also undergo profound change. This investment opens the door to a number of exciting opportunities. Continuing its efforts to build strong alliances across the payments spectrum, SDF is one step closer to achieving its mission of equitable access to financial services.
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