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Major American money-transfer firm MoneyGram International inc. is gearing to roll out a service that would allow users to send and convert stablecoins.
Source: Bloomberg
USDC is down 0.01%, while UST is down 0.58%.
MoneyGram said it has partnered with Stellar blockchain which would allow users to send stablecoins and give them the capacity to convert them into hard currency.
Under the partnership, users with Stellar wallets will be able to convert their holdings into Circle Interest Financial’s USDC stablecoin, which in turn can then be cashed out through the MoneyGram network.
MoneyGram Chief Executive Officer Alex Holmes said the partnership seeks to establish a bridge from the cryptocurrency world to the fiat world, with both worlds not really currently compatible.
Holmes has maintained his confidence on cryptocurrencies, which he believes are “here to stay” and are “going to be here for a long time despite recent selloffs and volatility.”
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