The merger with Ant Financial will provide MoneyGram with resources to further develop its technology, systems and anti-money laundering and compliance programs.
The new MoneyGram non-custodial wallet will provide a more flexible way for users to handle funds and make transactions cheaper.
Stellar Development Foundation said that the investment in MoneyGram in growing its digital business, researching blockchain technology, and contributing in other ways.
SDF CEO believes that the Money Fund is ideally suited to run on the Stellar blockchain network.
According to Chief Executive Officer Alex Holmes, cryptocurrencies are complementary to everything that one can do at MoneyGram.
Once the new service launches, MoneyGram platform will be using USD Coin (USDC) that the fintech company Circle and crypto exchange Coinbase jointly launched on the Stellar blockchain in order to quickly move value around the globe.
MoneyGram’s Chief Executive Officer Alex Holmes will remain at the helm of affairs in the company following the completion of the buyout.
Jay Clayton has a very positive disposition to Bitcoin (BTC) and Ethereum (ETH), both of which were classified as commodities by the SEC and the status was never challenged under his tenure.
The eventual refurbishing of the ledger-based stablecoin bridge between crypto and local currencies will begin in early 2022, with an aim to reconnect MoneyGram’s 150 million consumers.
Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners.
XRP, the digital currency that is central to the SEC onslaught, has caught on a new fire fueled by the latest victory Ripple inked.