Stellar (XLM), developer of Stellar (XLM), one of the well-established projects in the history of crypto money, announced that it has purchased a large amount of shares of payment service provider MoneyGram.
Foundation CEO Denelle Dixon shared a post on the X account after the official announcement. Dixon noted that investing in the payment provider was an “easy” decision. Emphasizing that he knows the MoneyGram team and the industry closely, the CEO of the Stellar foundation is excited to work together.
The decision to invest in @MoneyGram was an easy one. After years of getting to know the business and the teams, we are excited to take part in MGI’s next chapter. It’s been an awesome few years working together, and we are excited for what’s next!https://t.co/PYAKHeXRxx
— Denelle Dixon (@DenelleDixon) August 15, 2023
“Investing in MoneyGram was an easy decision. We are excited to be involved in the company’s future story, as we know the business closely. We will work together in the years to come.”
Denelle Dixion also made the necessary explanation about the source of this investment. The foundation manager stated that they used the foundation’s treasury for the shares they bought. XLM did not use the funds allocated to small startups for this investment. The financial details of the deal remain confidential.
Stellar and MoneyGram Partnership Goes Back!
There is a long-standing relationship between the leading altcoin project and the payment provider. The two companies, which started joint technology development in 2019, have formal cooperation since 2021. MoneyGram aims to make international payments easier by leveraging Stellar’s experience in blockchain technology.
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