MoneyGram and Stellar Development Foundation to create cash to cryptocurrency bridge

What

MoneyGram and Stellar Development Foundation are partnering to let MoneyGram customers acess cryptocurrency wallets from their outlets

Why

They want to bring the cryptocurrency sphere and fiat currency transfer world closer together

What next?

The service has initially launched in Canada, Kenya, Philippines and the U.S

The story

MoneyGram and the Stellar Development Foundation have partnered to give MoneyGram customers easier access to their crypto wallets for transferring fiat currencies.

The service is initially available in Canada, Kenya, Philippines and the U.S., with more regions to be added as the programme expands. This service is a step toward bridging the gap between physical and digital currencies on a scale that has not yet been seen. The aim is create greater fluidity between cash and crypto so more people can benefit from the digital economy.

Alex Holmes, MoneyGram chairman and CEO, said: “At MoneyGram, we’re on a mission to deliver innovative financial solutions that connect the world’s communities, and the initial launch of this service is another important milestone on our journey. It’s especially exciting to launch this service ahead of schedule due to the strong collaboration of our technology teams, and we look forward to further collaboration with SDF as we work on uncovering new ways to utilise blockchain to further streamline cross-border payments.”