MoneyGram has partnered with Stellar to provide Stablecoin money transfers

Home / MoneyGram has partnered with Stellar to provide Stablecoin money transfers

One of the largest money transfer services in the world – MoneyGram – plans to provide users with the ability to send stabelcoins and convert them into fiat currency. For these purposes the company has concluded a partnership with the Stellar blockchain.
CEO Alex Holmes said that cryptocurrencies and fiat “aren’t exactly compatible today,” and added that one of MoneyGram’s goals is to build a bridge between the two.
Through its partnership with Stellar, MoneyGram will provide users with the ability to make money transfers in U.S. dollars. Customers will also be able to cash out these assets using the MoneyGram network.

In addition, Holmes gave his opinion on the ongoing decline of the cryptocurrency market. Despite the recent “sell-off and volatility,” he is optimistic about the future of digital assets, predicting that they will remain a key feature of the financial network for a long time to come.
“I think it’s important to embrace cryptocurrency and make it mainstream,” he said.
In addition, Holmes added that the company plans to help embrace bitcoin in El Salvador and is currently in talks with authorities.
“If a country like El Salvador is going to make bitcoin equal to the U.S. dollar domestically, I believe MoneyGram customers should be able to transfer bitcoin to El Salvador or transfer dollars and convert them to bitcoin. If that’s what the world is moving toward, let’s participate in that world and see how we can help make that opportunity happen,” he concluded.

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