Stellar Development Foundation made a minority investment in MoneyGram International as part of the remittance company's recent buyout, with SDF CEO Denelle Dixon joining MoneyGram's board. The partnership builds on their 2021 collaboration enabling stablecoin payments and USDC settlements on Stellar.
MoneyGram International announced a new board of directors that includes Denelle Dixon, CEO of the Stellar Development Foundation, following MoneyGram's delisting and buyout. The SDF made a minority investment in MoneyGram using treasury funds designated for operations rather than its Enterprise Fund. This investment reflects the deepening relationship between the organizations, which began in 2021 when they partnered to enable customers to make payments with stablecoins and settle incoming money as USDC on the Stellar blockchain. Dixon highlighted MoneyGram as a leading cash-to-crypto on and off-ramp, positioning the investment as a strategic move to strengthen Stellar's remittance infrastructure.