Moneygram and Stellar Expand USDC Services in Latin America
- Moneygram International Inc. has extended its partnership with the Stellar Development Foundation to expand stablecoin services across Latin America.
- The initiative aims to enhance cross-border remittance access using USD Coin (USDC) for faster and lower-cost transactions.
- The service, initially deployed in Colombia, is now available in El Salvador, with further expansion planned across Central and South America.
- The system leverages blockchain technology through Stellar, Crossmint, and Circle for near-instant settlement and flexible cash access.
- Since the partnership began in 2021, key tools like a developer-facing API have been developed to support digital asset settlements.
Moneygram’s expanded stablecoin infrastructure aims to provide financial inclusion by integrating blockchain technology with traditional payment systems. This effort targets underserved regions, facilitating faster global payments through a seamless network that operates across fiat and stablecoins.
With an extended reach into new markets like El Salvador, Moneygram continues to enhance its digital asset settlement capabilities using USDC, demonstrating the growing institutional traction of stablecoins in emerging markets. (Source)
