Stellar Invests in MoneyGram to Support Digital Investment
Cross-border crypto payments network Stellar has announced an investment in money transfer company MoneyGram International. Stellar has become a minority investor in MoneyGram using funds from its own cash treasury. The investment is not tied to any specific project but is based on confidence in MoneyGram’s management and future plans to increase digital investment and provide value to the underbanked. The amount of the investment has not been disclosed. Stellar’s CEO, Denelle Dixon, now has a seat on MoneyGram’s Board of Directors.
Key Points:
- Stellar becomes a minority investor in MoneyGram
- The investment is based on confidence in MoneyGram’s management and future plans
- The amount of the investment has not been disclosed
- The funds will be used to expand MoneyGram’s digital business and explore blockchain technology
- Stellar and MoneyGram have been working together for years
Stellar and MoneyGram have been collaborating for two years, with Stellar assisting MoneyGram in launching a cash-to-crypto service. Previous rumors suggested that Stellar was considering acquiring MoneyGram. The investment demonstrates MoneyGram’s commitment to becoming a digital-forward leader in fintech.
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