MoneyGram International, Inc. announced plans to unveil its non-custodial digital wallet, set to launch in Q1 2024. This innovative wallet aims to simplify cross-border payments and enable users to seamlessly transition between fiat and digital currencies.
Features of the MoneyGram Non-Custodial Digital Wallet:
- Global Accessibility: Users worldwide can leverage stablecoin technology to facilitate currency conversion with ease.
- Cash-Out at Locations: Wallet users can visit participating MoneyGram locations to cash out their digital assets, increasing their utility.
- Peer-to-Peer Transfers: The wallet enables frictionless digital asset transfers between users.
- Robust Compliance Screening: MoneyGram will apply its industry-leading compliance screening to all wallet users.
MoneyGram CEO Alex Holmes emphasized their commitment to connecting global communities through innovative financial solutions. He noted that MoneyGram had already become a prominent fiat on/off-ramp provider for blockchain access worldwide. The non-custodial digital wallet represents a significant step towards enhancing access to the digital economy, backed by MoneyGram’s reputation for speed, efficiency, and trust.
As the wallet is rolled out in the coming year, MoneyGram plans to expand its capabilities and introduce features bridging international money transfers and blockchain payments.
In 2022, MoneyGram introduced a global fiat on/off-ramp service for digital wallets, offering bridge services between fiat and digital currencies. The company expanded this service to eight digital wallets on the Stellar blockchain, enabling cash-out in over 180 countries and cash-in in more than 30 countries.
The MoneyGram non-custodial digital wallet, developed in partnership with Cheesecake Labs, will leverage the Stellar network and MoneyGram’s fiat on/off-ramp services integrated with Stellar.
Holmes concluded by expressing excitement about MoneyGram’s blockchain initiatives and the broader role the company envisions in the lives of consumers globally.
About MoneyGram International, Inc.: MoneyGram International, Inc. is a leading global financial technology company that connects communities worldwide. It provides seamless money transfers, cryptocurrency services, and more. MoneyGram’s innovative cross-border platform allows users to send funds directly into bank accounts, mobile wallets, or access cash through a vast distribution network.