Alex Holmes — the CEO of remittances giant Moneygram International Inc. (NASDAQ: MGI) — said that the firm is "trying to be a bridge from the crypto world to the fiat world."
What Happened: MoneyGram is preparing to launch a service based on the Stellar (CRYPTO: XLM) blockchain which would leverage stablecoins to carry out remittances, according to a Sunday Bloomberg report. During an interview, Holmes admitted that "the world of crypto and the world of fiat are not really compatible today," but promised that the firm is trying to move the two closer.
See Also: How To Earn Free Crypto
When MoneyGram's new service launches, the platform will be using USD Coin (CRYPTO: USDC) — the stablecoin jointly launched by fintech Circle and crypto exchange Coinbase (NASDAQ:COIN) Global Inc. (NASDAQ: COIN) — on the Stellar blockchain to quickly move value around the globe. The company would then allow users to cash out the stablecoins for fiat currency through its own network.
The move comes amid...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...