Per a press release shared with Bitcoinist, MoneyGram and Stellar are strengthening their cooperation. The payment company has begun the deployment of a crypto-to-cash service on this blockchain. This product will operate as the “first of its kind global on and off-ramp” service.
The crypto to cash bridge is available, according to the press release, in several remittance markets across Kenya, the Philippines, the United States, and Canada. MoneyGram expects the Stellar-based service to be expanded to at least 7 more countries by the end of June.
The crypto-to-cash services are aimed at providing people with access to digital assets and improving MoneyGram’s customers experience in sending and receiving remittances. In order to achieve this objective, the service will be supported by Circle’s stablecoin USDC Coin (USDC).
The partners expect users to be able to use cryptocurrencies for new use cases, to remove friction from the process of exchanging fiat for crypto, to increase...
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