Money transfer company MoneyGram has announced the roll-out of a crypto-to-cash service in partnership with the Stellar Development Foundation (SDF), a non-profit that develops the Stellar blockchain.
<h2>MoneyGram Launches Stellar-Based Service</h2>
According to a Friday announcement, MoneyGram is launching an on-and-off-ramp service for <a href="https://www.cryptoknowmics.com/news/where-to-store-your-cryptocurrency-exchanges-or-wallets/" target="_blank" rel="noopener">crypto wallets</a> on the Stellar network. It will be initially rolled out in a few select markets including Canada, Kenya, the Philippines, and the US, and is expected to launch in more countries by the end of the year.

https://twitter.com/StellarOrg/status/1535310002734264321

The service will make it easy for digital wallets to move between fiat to cryptocurrency to fiat again, without needing a bank account or credit card, with the help of Circle’s USDC stablecoin.

More custodial and non-custodial wallets will be added to the service soon, but for now, Stellar-based crypto wallets Vibrat and Lobstr can access the service. MoneyGram said it is offering the service with no fees for the first 12 months to boost adoption.

Denelle Dixon, the CEO and Executive Director of the <a href="https://www.stellar.org/foundation?locale=en" target="_blank" rel="nofollow noopener">Stellar Development Foundation</a> commented,
<blockquote><em>"Today, almost 2 billion people rely on cash for their livelihood, with no options to access the digital economy. At the same time, a persistent pain point for crypto-native users is off-ramping cryptocurrency quickly and reliably. The groundbreaking nature of this service is how it solves problems for a range of users with varying needs around the world."</em></blockquote>

MoneyGram Launches Crypto-to-Fiat Service on Stellar Blockchain

MoneyGram has announced the roll-out of a crypto-to-cash service in partnership with the Stellar Development Foundation (SDF).

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

MoneyGram Launches Crypto-to-Fiat Service on Stellar Blockchain

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