Wyre integrated with MoneyGram's new crypto on- and off-ramp service on Stellar, enabling its 15 million users to convert between fiat and digital currencies. MoneyGram is offering the service fee-free for the first 12 months.
Cryptocurrency infrastructure provider Wyre has integrated with MoneyGram's global on- and off-ramp service for digital wallets on the Stellar Network. The integration enables Wyre's 15 million users and FinTech app partners to seamlessly transition between cash and cryptocurrency across Stellar and MoneyGram's retail partner network. The service, supported by the Stellar Development Foundation, bridges physical and digital currencies with no fees for the first 12 months. Wyre's CEO emphasized the goal of bringing cryptocurrency to the masses regardless of location or financial literacy. This comes as Bolt Financial prepares to acquire Wyre in a $1.5 billion deal expected to close later in 2022.