Stellar Development Foundation has tentatively approached MoneyGram International about a potential acquisition in partnership with private equity firm Advent International, according to Bloomberg. No final decision has been made, and both parties could opt out of the deal.
The Stellar Development Foundation has reportedly made preliminary contact with MoneyGram International regarding a potential takeover, working alongside Boston-based private equity firm Advent International. Bloomberg cited unnamed sources familiar with the matter, noting that no final decision has been reached and either party could choose not to proceed. MoneyGram, founded in 1940, is one of the largest U.S. money remittance companies and previously partnered with Ripple before that relationship ended in 2021 following SEC investigations. The news triggered a 13.3% surge in XLM price within 24 hours.