The Stellar Development Foundation invested in MoneyGram International as a minority investor during MoneyGram's go-private transaction, securing a board seat to support MoneyGram's blockchain and digital expansion.
The Stellar Development Foundation announced a strategic minority investment in MoneyGram International following their two-year commercial partnership. The investment was made from SDF's operational treasury rather than its startup fund, marking the first such treasury investment. SDF CEO Denelle Dixon stated the investment gives SDF a seat on MoneyGram's Board of Directors and will help advance MoneyGram's digital business expansion through blockchain technology exploration. The partnership builds on MoneyGram's existing crypto payment services and cash-to-crypto offerings on the Stellar network.