MoneyGram and the Stellar Development Foundation launched a live pilot enabling cash deposits and international payments via Stellar USDC with near-instant settlement, marking one of the fastest blockchain integrations for a major money transfer company.
MoneyGram International partnered with the Stellar Development Foundation to integrate Stellar blockchain into its network, enabling cash funding and payouts in local currency using Stellar USDC. In just over one month, the collaboration achieved its first major milestone by launching a live cash-in and cash-out pilot in the U.S., allowing participants to deposit cash at MoneyGram locations and send international payments via Stellar USDC. The integration leverages Stellar's open-source infrastructure, SDKs, and Ecosystem Protocols to provide seamless conversion between USDC and cash without requiring a bank account. Settlement is now nearly instantaneous, improving efficiency and reducing risk. The pilot serves unbanked and underbanked populations in emerging markets, with 11 markets planned for full launch in 2022.
