Jake Urban, tech lead for partner engineering at SDF, discusses the recently launched MoneyGram Access integration that enables users to convert fiat cash to crypto at MoneyGram agents worldwide. He also introduces the Stellar Anchor Platform, a generalized solution that helps financial institutions integrate with Stellar standards.
In this Tech Talk episode, Jake Urban from the Stellar Development Foundation details the MoneyGram Access integration, which allows users to convert fiat cash to cryptocurrency at MoneyGram agents globally and vice versa. Unlike traditional banking integrations, this cash agent network required significant education and coordination with MoneyGram's established infrastructure. Urban explains the benefits for wallets and exchanges integrating with MoneyGram Access: global coverage for cash-out functionality, cost-effective transactions using Stellar USDC with minimal fees, and compatibility through the CEP24 standard protocol. He also introduces the Stellar Anchor Platform, an MVP-stage software package that generalizes the adapter pattern MoneyGram built, allowing existing financial institutions to map their internal APIs to Stellar standards with minimal effort. Other CEP24-compatible on and off ramps mentioned include N tokens in Brazil, Settle in Argentina and Mexico, Stably in the US, Tempo in Europe, and ClickBase in Tanzania and Kenya.