Why MoneyGram Launched A Bankless Payment Method On Stellar

Payment giant MoneyGram International continues to cement its partnership with the Stellar ecosystem. Via an official post, the company announced a new stage for its collaboration by deploying a live cash-in and cash-out pilot initiative in the United States. Related Reading | Stellar To Launch New Europe-Africa Payment Corridor With This Partner After ending its relationship with payment solution company Ripple due to the U.S. SEC lawsuit against its executives, MoneyGram established a collaboration with the Stellar Development Foundation. In a little under 2 months, the partners have taken important steps to improve the company’s payment settlement capabilities. According to MoneyGram, their newest pilot initiative has allowed them to deploy “one of the quickest, most seamless integrations yet”. As of now, participants in the U.S. can make dollar deposits into their wallets at certain MoneyGram establishments and leverage Stellar-based USDC Coin (USDC) to send instant payments abroad. In addition, participants will be able to exchange Stellar USDC for “any cash currency supported” on MoneyGram. The official post claims: With Stellar, MoneyGram enables consumers to seamlessly convert USDC to cash, or cash to USDC – all without requiring a bank account. Since USDC is the world’s fastest growing digital dollar currency, the utility and liquidity of this versatile digital asset will only grow as more wallets and companies j...