XRP v. Stellar: MoneyGram Could Tip Balance In Rivalry?
In a recent deal, the Stellar Development Foundation (SDF) celebrated its partnership with MoneyGram, which has resulted in the development of a crypto-backed product called MoneyGram Access. The CEO of SDF, Denelle Dixon, highlighted the growth of the Stellar network due to this product, making it the “leader of cash-to-crypto on and off-ramps.” The SDF decided to invest in MoneyGram and take an active role in determining its future, including occupying a seat on MoneyGram’s board of directors. This move will allow the SDF to strengthen and guide MoneyGram’s new strategy into the digital economy. The SDF aims to promote the exploration of blockchain technology and expand MoneyGram’s digital business. While there are no immediate gains from this partnership, the Stellar ecosystem could benefit in the long run.
Key Points:
- The Stellar Development Foundation (SDF) celebrated its partnership with MoneyGram and the development of the crypto-backed product, MoneyGram Access.
- The Stellar network has become the leader in cash-to-crypto on and off-ramps.
- The SDF decided to invest in MoneyGram and take an active role in shaping its future.
- The SDF will now have a seat on MoneyGram’s board of directors, with Denelle Dixon representing the SDF.
- The SDF aims to promote blockchain technology and expand MoneyGram’s digital business.
Hot Take: The partnership between Stellar and MoneyGram has the potential to strengthen the Stellar ecosystem and drive innovation in the digital economy. By taking an active role in MoneyGram’s future and promoting blockchain technology, Stellar could solidify its position as a leader in the crypto space. While there are no immediate gains from this partnership, the long-term benefits could be significant.
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