MoneyGram International has partnered the Stellar Development Foundation (SDF) with to initiate the roll out of its crypto-to-cash service that is now available in key remittance markets, including Kenya, the U.S., Canada, and the Philippines for the first wave of users. According to MoneyGram, global cash-out functionality is expected to be available by the end of June 2022. Powered by the Stellar blockchain and Stellar-enabled digital wallets, MoneyGram’s retail agent network, and Circle’s USD Coin (USDC), a fully-reserved dollar digital currency, the service provides cash users access to cryptocurrency. Users of the Stellar-connected digital wallets Vibrant and LOBSTR, with more wallets expected to be added soon, can now access this service at MoneyGram’s participating international retail locations. Settlement with MoneyGram will occur in near-real-time using USDC, enabling an accelerated collection of funds, improving efficiencies and reducing risks. With the launch of this service, digital wallet users can now move seamlessly from cash to cryptocurrency, to cash again — without requiring a bank account or credit card. Read the full Fintech News Africa article through the link in the comments below👇. #cryptocurrency #crypto #cryptonews #cryptocurrencies #blockchain #remittances #moneygram #fintech #financialtechnology #financialservices
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