Why MoneyGram Launched A Bankless Payment Method On Stellar

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	28,266,809,878	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

28,266,809,878

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0074	-1.41%	0.5185	0.5183	0.5184

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0074

-1.41%

0.5185

0.5183

0.5184

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5264	0.5093	0.5257	0.5259	0.399480 - 0.950000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5264

0.5093

0.5257

0.5259

0.399480 - 0.950000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:08:42	0.00000100	0.5185	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:08:42

0.00000100

0.5185

USD

Price x Volume	Volume	Base Symbol	Related Pairs
18,781,143.48	36,307,968.12	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

18,781,143.48

36,307,968.12

Why MoneyGram Launched A Bankless Payment Method On Stellar

18/11/2021 11:56pm

NEWSBTC

Payment giant MoneyGram International continues to cement its partnership with the Stellar ecosystem. Via an official post, the company announced a new stage for its collaboration by deploying a live cash-in and cash-out pilot initiative in the United States. Related Reading | Stellar To Launch New Europe-Africa Payment Corridor With This Partner After ending its relationship with payment solution company Ripple due to the U.S. SEC lawsuit against its executives, MoneyGram established a collaboration with the Stellar Development Foundation. In a little under 2 months, the partners have taken important steps to improve the company’s payment settlement capabilities. According to MoneyGram, their newest pilot initiative has allowed them to deploy “one of the quickest, most seamless integrations yet”. As of now, participants in the U.S. can make dollar deposits into their wallets at certain MoneyGram establishments and leverage Stellar-based USDC Coin (USDC) to send instant payments abroad. In addition, participants will be able to exchange Stellar USDC for “any cash currency supported” on MoneyGram. The official post claims: With Stellar, MoneyGram enables consumers to seamlessly convert USDC to cash, or cash to USDC – all without requiring a bank account. Since USDC is the world’s fastest growing digital dollar currency, the utility and liquidity of this versatile digital asset will only grow as more wallets and companies join the Stellar ecosystem The company added that this program has made MoneyGram’s payment settlement “instantaneous”, for the first time since its inception. In that way, the company believes that consumers will be able to benefit from an increase in payment efficiency, less risk, and a speed-up fund collection. Unlike its competitor, MoneyGram believes that cash money will be a part of the future as a tool for the unbaked. In that sense, they attempt to create alternatives to cash and expand the access to financial opportunities to everyone. How Does The MoneyGram And Stellar Pilot Solution Works? Per the post, MoneyGram has used Stellar’s resources and documentation for their developer kits and its “well-designed set” of ecosystem protocols (SEPs) with various APIs to create their pilot solution. Related Reading | How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services Expected to be publicly available in 2021, Jake Urban, Senior Software Engineer at the Stellar Development Foundation made a step-by-step demonstration on how users can exchange and send money via the MoneyGram solution, as seen in the video below. The company said: By integrating with Stellar, MoneyGram is offering its millions of users a local fiat entry into blockchain, providing those in emerging markets easier access to digital assets than ever before. This pilot is just the first of many steps to create greater access to the world’s financial system for everyone, regardless of where they are. As of press time, XLM trades at $0,32 with a 6% loss in the daily chart.

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