MoneyGram won the 2023 FinTech Breakthrough Award for Best Use of Blockchain in FinTech, recognized for its on/off-ramp service on Stellar that bridges digital assets and local currency through MoneyGram retail locations worldwide.
MoneyGram International has been awarded Best Use of Blockchain in FinTech at the 2023 FinTech Breakthrough Awards for its partnership with the Stellar Development Foundation. The company created a first-of-its-kind global on/off-ramp service for digital wallets on the Stellar blockchain, enabling users to convert between cash and cryptocurrency at participating MoneyGram locations. The service uses Circle's USDC stablecoin and enables near-real-time settlement, addressing a major challenge in cross-border payments by removing liquidity constraints from pre-funding requirements and overnight settlement delays. This partnership demonstrates how blockchain technology can improve financial inclusion and access to digital economy services for cash-dependent populations.