The largest money transfer companies MoneyGram launches a new service allowing to cash out cryptocurrencies in the company’s branches. It is, however, only about tokens on the Stellar blockchain.
The new feature is being developed with the Stellar Development Foundation. It will allow at any time to cash out cryptocurrencies or buy digital assets at MoneyGram branches. The process will be quick and easy and will not require a bank account or credit card. Payments will be made using the USDC stabelcoin.
At the first stage, residents of several countries, including Canada, the Philippines, USA and Kenya will have access to the new function – the service will be available at any MoneyGram office in these countries. These regions were chosen due to the large share of international transfers. The service is scheduled to be fully launched by the end of June 2022.
“Right now, about 2 billion people rely on cash in their daily lives. They just don’t have access to the digital economy. For cryptocurrency users, the main headache is the quick and reliable withdrawal of their assets into fiat currencies. Our revolutionary service can solve the problems of a wide range of users with a variety of needs and around the world, “- stressed the CEO of Stellar Development Foundation Denelle Dixon (Denelle Dixon).