MoneyGram, a global payments network, and the Stellar Development Foundation (SDF), the nonprofit supporting the Stellar blockchain, have announced a multi-year extension of their partnership, marking more than five years of collaboration.
The extended partnership expands stablecoin utility across Latin America, with the MoneyGram app's stablecoin balance feature now live in El Salvador following its initial launch in Colombia.
The stablecoin balance within the MoneyGram app, powered by Stellar, Crossmint, and Circle's USDC, allows customers to instantly receive funds into a US dollar-denominated balance, hold digital dollars, and cash out at MoneyGram retail locations. Additional markets across Central and South America are expected to launch throughout 2026, with global expansion planned beyond the region.
Five-year track record and infrastructure capabilities
Since 2021, MoneyGram and SDF have developed what they describe as the world's largest cash on/off-ramp for digital assets, the MoneyGram Ramps API enabling third-party developers to integrate into that network, and the in-app stablecoin balance. MoneyGram's global network spans more than 200 countries and territories and nearly 500,000 retail locations, providing the physical infrastructure through which stablecoin balances can be accessed as cash by customers who rely on in-person financial services.
Furthermore, the expansion addresses a practical need in Latin America, where millions of families depend on remittances as a primary financial resource. Stablecoin-denominated balances offer faster fund access and protection against local currency volatility in markets where conventional banking access may be limited.
Commenting on the news, Anthony Soohoo, Chairman and CEO of MoneyGram, mentioned that the company is building an open payments network that moves optimally across fiat and stablecoin that can serve the needs of individuals. Adding to this, Denelle Dixon, CEO and Executive Director of SDF, noted that the partnership delivers the capabilities of blockchain in ways that are simplified and intuitive for customers, expanding access and lowering costs for cross-border payments at scale.
