Moneygram has announced plans for a digital wallet that will use stablecoins as a conduit for cryptocurrency on and off ramps and for cross-border payments.
The non-custodial wallet will launch in early 2024 in association with the Stellar Development Foundation (SDF).
The wallet will be offered as a zero-fee service until June 2024. Moneygram is partnering with Cheesecake Labs to build it.
How It Works
Once launched, wallet users will be able to visit any participating MoneyGram location to cash-out their digital assets to increase the utility of their holdings. Users will also be able to seamlessly send digital assets to other users in the wallet.
What They’re Saying
“Our vision to connect the world’s communities, by empowering our customers through innovative financial solutions, takes another step forward today,” said Alex Holmes, MoneyGram CEO. “Through the services we provide in partnership with SDF, MoneyGram has made strides to create equitable access to the global financial system, having become the single largest fiat on and off-ramp provider offering blockchain access worldwide.”
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