MoneyGram partners with Stellar Development Foundation to enable crypto payouts in local currencies using Circle's USDC stablecoin, integrating MoneyGram's network with Stellar blockchain for cross-border payments and settlement.
MoneyGram announced a partnership with the Stellar Development Foundation to enable cryptocurrency payouts converted to local currencies for users. The integration will use Circle's USDC stablecoin for settlement, with MoneyGram's network connected to the Stellar blockchain to process transactions. United Texas Bank will serve as the settlement intermediary between Circle and MoneyGram. CEO Alex Holmes emphasized the firm's confidence in stablecoins for streamlining cross-border payments. This partnership follows MoneyGram's previous collaboration with Ripple, which ended in March amid regulatory scrutiny of XRP.