MoneyGram teams up with Stellar Development Foundation

MoneyGram's network, integrated with the Stellar blockchain and facilitated through Circle's USD Coin (USDC), will enable cash funding and payout in local currency for consumers using USDC, as well as near-instant backend settlement capabilities.

MoneyGram is one the first money transfer companies to utilise blockchain technology as part of its foreign exchange trading and has since launched several partnerships that provide broad consumer access to digital currencies.

The partnership is scheduled to go live in select markets in 2021, with further international rollout planned in 2022.