MoneyGram Announces Non-custodial Crypto Wallet
MoneyGram, a money transfer service, will be launching a new non-custodial wallet in the first quarter of 2024 that will utilize stablecoin technology.
This product will allow clients to easily convert their crypto assets into fiat currency and vice versa. The company has partnered with the Stellar Development Foundation to provide fair access to the global financial system.
In October, MoneyGram added trading and storage options for popular cryptocurrencies Bitcoin, Ethereum, and Litecoin in their mobile app for US users.
Additionally, the Stellar Development Foundation has launched a $100 million fund to incentivize developers to create products and services on their smart contract platform, Soroban.
It is important to note that the SDF made a strategic investment in MoneyGram last August, making them a minority shareholder and giving them a seat on the payment company’s board of directors.
