MoneyGram partnered with Stellar to enable instant cross-border payments using USDC stablecoin, allowing digital wallets to access MoneyGram's retail network for cash funding and local currency payouts with near-instant settlement.
MoneyGram has announced a strategic partnership with the Stellar blockchain network to facilitate cross-border payments using Circle's USDC stablecoin. The agreement connects digital wallets on Stellar to MoneyGram's global retail network, enabling users to fund transfers and receive payouts in local currency with near-instant backend settlement. United Texas Bank will serve as the settlement intermediary between Circle and MoneyGram, handling direct USDC to USD conversion within regulatory frameworks. The partnership is set to launch in select markets in 2021 with international expansion planned for 2022. This deal follows MoneyGram's termination of its earlier Ripple partnership due to SEC regulatory concerns.