MoneyGram, a global payments network for money transfers, and the Stellar Development Foundation, a nonprofit supporting open blockchain infrastructure, have extended their partnership for several more years. The companies aim to keep bringing stablecoins into everyday financial use, especially in regions where cash still dominates.
The cooperation started more than five years ago and has since moved from pilot projects to working services. Since 2021, the partners have connected digital assets with physical cash networks. Users can now convert funds both ways. The MoneyGram app includes a stablecoin balance where customers can receive, store, and withdraw digital dollars.
Focus on Latin America
The new phase of the partnership targets Latin America. The service is already active in Colombia and has now launched in El Salvador. Users can receive transfers into a dollar-based balance. They can keep funds in digital form or cash out at local MoneyGram points. More countries in Central and South America are expected to follow later this year.
Technical Backbone
The system runs on Stellar blockchain infrastructure. Support comes from Crossmint, a web3 payments technology provider. The stablecoin used is USDC, issued by Circle, a company focused on regulated digital dollars. This setup helps bridge the gap between digital currencies and physical cash systems.
What It Means
For people in cash-heavy economies, this offers a practical way to use stablecoins without needing a smartphone or internet access at every step. It’s a more realistic path to financial inclusion than earlier attempts. The extended partnership suggests both companies see long-term value in this approach, even if the pace of adoption remains slow in some areas.
Image: Freepik
