CEX.io has integrated MoneyGram and Stellar to enable users to convert USDC to physical cash and vice versa at participating MoneyGram locations across the EEA, Africa, LATAM, and select European countries.
CEX.io, a centralized cryptocurrency exchange, announced a partnership with financial services company MoneyGram and the Stellar blockchain to expand cash-in and cash-out services for its users. The integration leverages Stellar's technology for quick and cost-effective fiat-to-USDC and USDC-to-fiat conversions at MoneyGram locations in the European Economic Area, Africa, Latin America, and countries including Austria, Hungary, Ireland, Lithuania, and Poland. Stellar's capability for tokenizing traditional currencies plays a fundamental role in the conversion process. The partnership aims to increase payment method versatility and is part of a broader trend on Stellar, including the recent announcement of EURT, a euro-pegged stablecoin launching on the network in compliance with the EU's MiCA framework.