MoneyGram launches its own cryptowallet

Moneygram is the world's second-largest provider of foreign money transfers. Now the company is launching its own wallet.

MoneyGram is launching its own non-custodial cryptowallet. CEO of the company Alex Holmes, announced this Sept. 26 at the Stellar Development Foundation's Meridian Conference. The digital wallet will "enabling consumers to use stablecoin technology to seamlessly move from fiat currency to digital currency and back to fiat currency."

Customers can visit any participating MoneyGram location to have their digital credits disbursed. Users can also "seamlessly send digital assets to other wallet users".

No more need for a checking account

With this, MoneyGram offers another payment method that does not require a checking account. MoneyGram uses the Stellar blockchain for this purpose and already introduced real-time transfer for stablecoins via Stellar in 2021. The launch is scheduled for the first quarter of 2024.

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