{"id":50801,"date":"2021-10-07T10:21:34","date_gmt":"2021-10-07T07:21:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50801"},"modified":"2025-09-02T20:18:23","modified_gmt":"2025-09-02T17:18:23","slug":"moneygram-uses-stellar-blockchain-and-the-usdc-stablecoin-for-settlements","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/moneygram-uses-stellar-blockchain-and-the-usdc-stablecoin-for-settlements\/","title":{"rendered":"MoneyGram uses Stellar blockchain and the USDC stablecoin for settlements"},"content":{"rendered":"<p>MoneyGram, the money-transfer service, announced a partnership with the Stellar Development Foundation to provide local-currency payouts via the USD Coin (USDC) stablecoin.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">MoneyGram today announced a partnership with <a href=\"https:\/\/twitter.com\/StellarOrg?ref_src=twsrc%5Etfw\">@StellarOrg<\/a>. Read the full press release here: <a href=\"https:\/\/t.co\/2UbBxTY8Sw\">https:\/\/t.co\/2UbBxTY8Sw<\/a> <a href=\"https:\/\/t.co\/HzSd3cvNcx\">pic.twitter.com\/HzSd3cvNcx<\/a><\/p>\n<p>\u2014 MoneyGram (@MoneyGram) <a href=\"https:\/\/twitter.com\/MoneyGram\/status\/1445851810149797891?ref_src=twsrc%5Etfw\">October 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The MoneyGram network, integrated with the Stellar blockchain and supported by Circle&#8217;s USDC, will provide funding in local currency for consumers using USDC, as well as near-instant internal settlements,&#8221; the press release said.<\/p>\n<\/blockquote>\n<p>United Texas Bank will serve as the settlement bank between Circle and MoneyGram.<\/p>\n<p>The joint solution is expected to launch on select markets as early as 2021, with international rollout planned for 2022.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;As the popularity of cryptocurrencies and digital assets grows, we are increasingly optimistic about the potential of stablecoins as a means of optimizing cross-border payments,&#8221; said MoneyGram chairman Alex Holmes.<\/p>\n<\/blockquote>\n<p>Ripple was previously a partner of the service. Since 2019 MoneyGram processed cross-border payments through the On-Demand Liquidity (ODL) system, which uses the XRP token.<\/p>\n<p>In November 2019 Ripple bought a stake in MoneyGram for $50 million.<\/p>\n<p>In December 2020 the SEC<a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\"> accused the California fintech company<\/a> of selling unregistered securities in the form of tokens worth $1.3 billion. The service initially <a href=\"https:\/\/forklog.com\/en\/news\/moneygram-adopts-wait-and-see-stance-after-sec-suit-against-ripple\">took a wait-and-see stance<\/a> regarding the status of XRP, but in February 2021 <a href=\"https:\/\/forklog.com\/en\/news\/moneygram-halts-cooperation-with-ripple-amid-sec-lawsuit\">discontinued the use of ODL<\/a>.<\/p>\n<p>In March Ripple <a href=\"https:\/\/forklog.com\/en\/news\/ripple-ends-its-partnership-with-moneygram\">announced the termination of its cooperation<\/a> with MoneyGram.<\/p>\n<p>A class-action lawsuit<a href=\"https:\/\/forklog.com\/en\/news\/class-action-filed-against-moneygram-over-ripple-partnership-claims\"> has been filed<\/a> against the service over statements regarding its partnership with Ripple and the XRP token.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MoneyGram, the money-transfer service, announced a partnership with the Stellar Development Foundation to provide local-currency payouts via the USD Coin (USDC) stablecoin.<\/p>\n","protected":false},"author":1,"featured_media":50802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1855,1390,243,910],"class_list":["post-50801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-moneygram","tag-partnership","tag-stellar","tag-usdc"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=50801"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50801\/revisions"}],"predecessor-version":[{"id":50803,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50801\/revisions\/50803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/50802"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=50801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=50801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=50801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}