MoneyGram, a global payments network for money transfers, and the Stellar Development Foundation, a nonprofit supporting open blockchain infrastructure, extended their partnership for several years. The companies continue to focus on bringing stablecoins into everyday financial use, especially in regions where cash remains dominant.
The cooperation began more than five years ago and moved from pilot projects to working services. Since 2021, the partners have connected digital assets with physical cash networks, allowing users to convert funds in both directions. The MoneyGram app now includes a stablecoin balance, where customers can receive, store, and withdraw digital dollars.
The new phase targets Latin America. The service is already active in Colombia and has now launched in El Salvador. Users can receive transfers into a dollar-based balance, keep funds in digital form, or cash out at local MoneyGram points. More countries in Central and South America are expected to follow later this year.
The system runs on Stellar blockchain infrastructure, with support from Crossmint, a web3 payments technology provider, and USDC issued by Circle, a stablecoin issuer focused on regulated digital dollars.
Image: Freepik
