MoneyGram’s Bold Move: A Digital Wallet Without Custody, What’s Next?

Introducing the MoneyGram Non-Custodial Digital Wallet

MoneyGram is launching a new digital wallet that will change how people send and receive money across borders. This wallet will let MoneyGram customers do exciting things with their money.

Once it’s available, people with the wallet can go to any MoneyGram location to turn their digital money into cash. This makes it easier to use their money. They can also send their digital money to other people who have the same wallet. What’s special about this wallet is that MoneyGram will make sure all users follow the rules, so it’s safe and secure.

The CEO of MoneyGram, Alex Holmes, says, “Our goal is to connect people all around the world and give them better ways to manage their money. With this new digital wallet, we’re taking a big step towards that goal. We’re excited to offer this service, and people can trust us because we’re known for being fast and reliable.”

In the future, MoneyGram will add more features to the wallet to make it even better for international money transfers and blockchain payments.

Building on the Global Fiat On and Off-Ramp Service

In 2022, MoneyGram did something new. They created a service that connects regular money (fiat) with digital money in digital wallets. This made it easier for people to use their digital money in lots of countries. MoneyGram expanded this service to eight digital wallets on the Stellar blockchain, letting people turn digital money into cash in over 180 countries and put money into digital wallets in more than 30 countries.

The MoneyGram digital wallet, which won’t have any fees until June 2024, will use the Stellar network and MoneyGram’s services to turn regular money into digital money and vice versa. It was made in partnership with Cheesecake Labs.

Holmes, the CEO, said, “We’re doing a lot of things differently to help people all over the world with their money. Our work with blockchain is just one example. We’re excited to share more about our plans in the coming months.”

About MoneyGram International, Inc.

MoneyGram International, Inc. is a big financial technology company that connects people around the world. They offer lots of financial services, like letting people send money to their families, buy and sell cryptocurrencies on their app, and send money to bank accounts and mobile wallets in many different currencies. MoneyGram is a modern and mobile company with a strong culture, and they’ve won awards for being a great place to work in the USA.

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