MoneyGram to Launch a Non-Custodial Crypto Wallet

MoneyGram’s money-transfer service will unveil a non-custodial wallet for digital assets in the first quarter of 2024, using stablecoin technology.

MoneyGram announced plans to launch its own non-custodial digital wallet on stage at the @StellarOrg‘s annual Meridian conference. The wallet, which will officially debut in Q1 2024, will enable consumers around the world to leverage stablecoin technology to seamlessly move from… pic.twitter.com/kB848vsp9e

— MoneyGram (@MoneyGram) September 26, 2023

The new product will allow customers to convert [cryptocurrencies] into fiat and vice versa, company representatives noted.

“Thanks to the services we provide in partnership with [Stellar Development Foundation, SDF], MoneyGram has achieved success in delivering fair access to the global financial system,” said MoneyGram’s chief executive Alex Holmes.

In October last year MoneyGram added an option for US users to trade and store Bitcoin, Ethereum and Litecoin in the mobile app.

In the same month the Stellar Development Foundation launched a $100 million fund aimed at incentivising developers to create products and utilities on the smart‑contract platform known as Soroban.

In August last year the Stellar Development Foundation conducted strategic investments in MoneyGram, becoming a minority shareholder and taking a seat on the payments company’s board.