Jakarta — A major interstate remittance company is reportedly exploring a partnership with Stellar (XLM) to enable fast cross-border transfers and stablecoin-to-fiat conversions.
MoneyGram CEO Alex Holmes emphasized the longevity of the crypto industry despite recent market volatility:
"The crypto industry will remain unchanged and persist for a long time, even amid recent sell-offs and fluctuations."
In an interview with Bloomberg, Holmes noted the incompatibility between traditional fiat and cryptocurrencies, stating the company’s goal is to bridge the gap between the two systems.
Key Features of the Stellar Partnership
- Bitcoin Services: MoneyGram will offer Bitcoin transactions via Stellar’s network.
- Stablecoin Integration: Users can transfer Circle’s USDC stablecoin and cash out holdings through MoneyGram’s extensive network.
- Asset Liquidity: Customers gain access to seamless crypto-to-fiat conversions.
Stability and Transparency in Stablecoins
Commenting on TerraUSD’s (UST) collapse, Circle CSO Dante Disparte reassured investors that USDC operates differently:
"USDC is fully backed by secure, liquid assets—primarily cash and U.S. Treasury bonds—unlike UST’s algorithmic model."
The Future of Crypto Adoption
Holmes expressed optimism about cryptocurrency’s role in mainstream finance:
"Adoption is critical to bringing cryptocurrencies into the core of digital financial systems."
Disparte also endorsed broader institutional adoption, citing examples like El Salvador’s Bitcoin integration:
"If countries like El Salvador aim to sync Bitcoin with the dollar, services like MoneyGram should facilitate those transitions."
FAQs
Q1: How does Stellar (XLM) improve MoneyGram’s services?
A1: Stellar’s blockchain enables faster, cheaper cross-border transactions and stablecoin conversions compared to traditional systems.
Q2: Is USDC safer than TerraUSD?
A2: Yes—USDC is 100% backed by cash and short-term Treasuries, while UST relied on unsustainable algorithmic mechanisms.
Q3: Can users cash out crypto via MoneyGram?
A3: Yes, the partnership allows crypto-to-fiat withdrawals through MoneyGram’s global network.
Q4: Will this service be available worldwide?
A4: Initially targeting key corridors, with plans to expand based on regulatory compliance and demand.
👉 Explore Stellar’s official partnership details
👉 Learn how USDC maintains its 1:1 peg