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Moneygram launches USDC Crypto-to-cash program

June 13, 2022

Moneygram launches USDC Crypto-to-cash program
Moneygram, a remittance and payments organization situated in the U.S., has announced the integration of USDC, a dollar-pegged stablecoin, as a repayment resource for its cash to crypto and crypto to cash program.

The organization will initially allow clients to trade USDC for money as well as the other way around in specific markets, including Canada, Kenya, the Philippines, and the U.S., with expectations for expanding it universally later.

Traditional remittance companies are now trying to include crypto in their activities and proposition more crypto-related services. Moneygram, a remittance and payments organization, recently announced it would begin to allow its clients to incorporate USDC, a dollar-pegged stablecoin, as a part of its crypto-off and on-ramping program.

The organization will use the Stellar organization as a settlement layer to make the required USDC transactions for the operation of the program.

The program established that clients needing to trade USDC for government-issued types of money, or that are selling and hoping to obtain crypto with their government-issued types of money will actually want to utilize the Moneygram application to organize trade, and they will actually want to go to any of the workplaces of the organization in the Canada, Kenya, the Philippines, and the U.S. to complete the operation.

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