MoneyGram, one of the leading money transfer companies, is preparing to launch a new service in partnership with Stellar that will allow users to transfer money abroad with stablecoin.
MoneyGram, a former partner of Ripple and one of the leading money transfer companies, plans to launch a money transfer service abroad with stablecoins. A partnership with Stellar was established for the plan, which was first announced in October 2021. Through this partnership, users will be able to make real-time money transfers via USD Coin (USDC). According to the news reported by Bloomberg, the company will allow users to convert their stablecoins into cash at MoneyGram agencies. Alex Holmes, CEO of MoneyGram, said in a statement on the subject:
“The crypto world and the fiat world are not really compatible today. We are trying to be a bridge from the crypto world to the fiat world.”
Despite the uncertain atmosphere created by the collapse of LUNA and the UST, Holmes said he still believes in the future of digital currencies. The CEO also said:
“Cryptocurrencies will clearly be permanent and will stay here for a long time despite recent sales and volatility. I think it’s important to embrace it, to make it mainstream.”
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