MoneyGram announced plans to launch a non-custodial digital wallet in Q1 2024 on the Stellar network, enabling users to move between fiat and stablecoins with cash-out access at 180+ countries through its global retail network.
MoneyGram unveiled its non-custodial digital wallet at the Stellar Development Foundation's Meridian conference, set to debut in Q1 2024. The wallet leverages stablecoin technology and Stellar's network to enable seamless fiat-to-digital-to-fiat conversions. Users can cash out digital assets at participating MoneyGram locations, send assets peer-to-peer, and benefit from MoneyGram's compliance screening. Built by Cheesecake Labs, the wallet integrates MoneyGram's existing fiat on and off-ramp service, which already operates across eight digital wallets and provides cash-out access in 180+ countries. The service will be zero-fee until June 2024.
