MoneyGram to Allow Stablecoin Transfers

MoneyGram, a company specializing in international financial transactions, has announced it intends to provide services for the transfer and conversion of stablecoins, Bloomberg has reported citing the head of the company Alex Holmes.

According to him, the company will reportedly partner with Stellar to launch a service that will allow users to send stablecoins as well as convert them into traditional money. He has added:

“Today, the world of cryptocurrency and the world of fiat are not exactly compatible. We’re trying to be a bridge from the crypto world to the fiat world.”

According to Holmes, the new service will be powered by the Stellar blockchain. When it is launched, users will be able to convert fiat money into USDC and vice versa.