One of the largest money transfer companies MoneyGram is launching a new service that allows you to cash out cryptocurrencies at the company’s branches. However, this is only about tokens on the Stellar blockchain.
New Feature being developed in collaboration with the Stellar Development Foundation. It will allow you to cash out cryptocurrencies or buy digital assets at MoneyGram branches at any time. The process will be quick and easy and will not require a bank account or credit card. Settlements will be made using USDC stablecoin.
At the first stage, residents of several countries, including Canada, the Philippines, the United States and Kenya, will have access to the new feature – the service will be available at any MoneyGram office in these countries. These regions were chosen due to the large share of international transfers. A full launch of the service is planned by the end of June 2022.
“Now about 2 billion people rely on cash in their daily lives. They simply do not have access to the digital economy. For cryptocurrency users, the main headache is the quick and reliable withdrawal of their assets into fiat currencies. Our revolutionary service solves the problems of a wide range of users with a variety of needs around the world,” said Denelle Dixon, CEO of the Stellar Development Foundation.
Earlier, MoneyGram announced that it was launching international transfers in stablecoins.
Source: Bits
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