The Stellar Development Foundation (SDF) has announced its investment in MoneyGram International, becoming a minority investor in the payments giant.
Key Points:
- SDF’s investment in MoneyGram is the first of its kind from its treasury, giving SDF a position on MoneyGram’s Board of Directors.
- The investment was made from SDF’s internal cash reserve, which is used to support the organization’s operations.
- SDF’s investment is expected to help MoneyGram expand its digital business, explore blockchain technology, and enhance its money transfer services.
- The partnership between MoneyGram and SDF began in October 2021 for settlements with USDC stablecoin.
- MoneyGram previously partnered with Ripple, but severed ties after Ripple was sued by the SEC over XRP.
Hot Take:
The investment by the Stellar Development Foundation in MoneyGram is a significant move that strengthens the partnership between the two organizations. By leveraging blockchain technology and exploring digital business opportunities, MoneyGram can enhance its services and expand its reach globally. This investment showcases the potential of cryptocurrencies and blockchain in revolutionizing the financial industry.
By
By
By
By
By