MoneyGram, known for peer-to-peer payments, is launching a crypto-to-cash service for digital wallets.
This service is to make it easy for digital wallet users to move between fiat to cryptocurrency to fiat again, without needing a bank account or credit card, the company said in a press release.
The company is working in partnership with Stellar Development Foundation, a non-profit institution that developed the Stellar blockchain.
The service is being rolled out in a few selected markets, including Canada, Kenya, the Philippines and the US, at any MoneyGram location in these countries. The company said it was focusing on these markets because they are “remittance markets,” or places where there is a high volume of cross-border transactions.
Source: The Block
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