MoneyGram Will Launch Crypto Wallet On Stellar Network With Focus On Cross-Border Remittances

MoneyGram, a payment processing company that focus on cross-border remittances will launch its own non-custodial wallet on Stellar network. Alex Holmers, company’s CEO announced at the Stellar Development Foundation annual Meridian conference that took place at Madrid, Spain from September 26 to 28.

MoneyGram has collaborated with Stellar to develop a non-custodial crypto wallet. It will facilitate cross-border remittances using stablecoin technology. This enables MoneyGram users to choose both fiat or cryptocurrencies as a way to send money back home.

MoneyGram plans to launch this crypto wallet in the first quarter of 2024. USDC is one of the stablecoins that it chooses to use.

Stellar can process 4,000 transactions per second. Stellar network takes 4-5 seconds to process a transaction.

Stellar (XLM) is 23^rd largest crypto by market cap. Its market cap is $3.115 billion and its fully diluted market cap is $5.621 billion.