MoneyGram partnered with Stellar Development Foundation and Circle to integrate USDC stablecoin on Stellar, enabling cash-to-USDC conversion at 400,000+ locations. The rollout begins in select markets in 2021, expanding internationally in 2022.
MoneyGram announced a partnership with the Stellar Development Foundation and Circle to integrate Circle's USD Coin (USDC) stablecoin on the Stellar blockchain. The integration will allow MoneyGram's 150 million customers across 400,000+ locations to convert cash to USDC and vice versa, improving liquidity and access to digital assets. United Texas Bank will serve as the settlement bank. The partnership addresses competition from Bitcoin-based payment services by combining traditional financial infrastructure with blockchain rails. Rollout is planned for select markets in 2021 with international expansion in 2022. USDC's market cap reached $32.4 billion, up 1110% year-over-year.