Thursday, February 2, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Moneygram Launches USDC Crypto-to-Cash Program in Certain Markets – Bitcoin News

by e-Naira Online News
June 12, 2022
in Crypto
Reading Time: 4 mins read
A A
0
Home Crypto
Share on FacebookShare on Twitter


Moneygram, a remittance and payments company based in the U.S., has announced the integration of USDC, a dollar-pegged stablecoin, as a settlement asset for its cash to crypto and crypto to cash program. The company will first allow users to exchange USDC for cash and vice versa in certain markets, including Canada, Kenya, the Philippines, and the U.S., with expectations of extending it globally later.

Moneygram Implements USDC Ramp Program

Traditional remittance companies are now trying to include crypto in their operations and offer more crypto-related services. Moneygram, a remittance and payments company, recently announced it would start allowing its users to include USDC, a dollar-pegged stablecoin, as part of its crypto off and on-ramping program. The company will make use of the Stellar network as a settlement layer to make the needed USDC transactions for the operation of the program.

The program established that customers needing to exchange USDC for fiat currencies, or that are selling and looking to acquire crypto with their fiat currencies will be able to use the Moneygram app to arrange an exchange, and they will be able to go to any of the offices of the company in the Canada, Kenya, the Philippines, and the U.S. to complete the operation.


Financial Inclusion

For Moneygram, this move is all about bringing financial inclusion to people that are still underbanked and underserved in some markets that present difficulties for its citizens to open bank accounts. One of the problems that this program seeks to solve, Denelle Dixon, CEO and executive director of the Stellar Development Foundation stated:

Today, almost 2 billion people rely on cash for their livelihood, with no options to access the digital economy. At the same time, a persistent pain point for crypto-native users is off-ramping cryptocurrency quickly and reliably. The groundbreaking nature of this service is how it solves problems for a range of users with varying needs around the world.

The service is already available in the selected markets mentioned above, and Moneygram declared that it is aiming for a global cashout functionality by the end of this month. This program is part of the partnership that Moneygram inked with the Stellar Development Foundation last October when the company announced that it would start allowing customers to send USDC-denominated remittances.

This kind of crypto alliance is not new for Moneygram, which had established a partnership with Ripple, another cryptocurrency and payments company, to pilot the use of its solutions for remittances back in 2018.

What do you think about Moneygram’s new USDC-based crypto-to-cash program? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Tags: BitcoinCryptotoCashLaunchesMarketsMoneygramNewsProgramUSDC
Previous Post

Only Tinubu can break cabal holding Nigeria down

Next Post

there’s nothing to celebrate, says Kaigama

Related Posts

Crypto

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell  – Economics Bitcoin News

by e-Naira Online News
February 1, 2023
Crypto

Tesla’s SEC Filing Shows Bitcoin Fair Market Value of $191 Million – Featured Bitcoin News

by e-Naira Online News
February 1, 2023
Crypto

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

by e-Naira Online News
January 31, 2023
Crypto

Recruiting Agencies in Japan Are Turning to the Metaverse – Metaverse Bitcoin News

by e-Naira Online News
January 30, 2023
Crypto

Bitcoin posts its best January in ten years, gains 40% within one month

by e-Naira Online News
January 30, 2023
Next Post

there's nothing to celebrate, says Kaigama

Lagos leads as Nigerians consume 966.58m litres of petrol in 2 weeks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

British American Tobacco earns alliance for Water Stew — Opinion — The Guardian Nigeria News – Nigeria and World News

January 29, 2023

Crypto Bank Custodia Denied Membership in US Federal Reserve System – Finance Bitcoin News

January 29, 2023

Guinness grows half year gross profit by 16%

January 27, 2023

Nigeria, others to meet over development in oil sector | The Guardian Nigeria News

January 27, 2023

Vitafoam Plc advocates special FX window for manufacturing sector

January 28, 2023

NIMASA plots CVFF disbursement strategy with banks — Business — The Guardian Nigeria News – Nigeria and World News

January 29, 2023

NGX CEO says to strengthen partnerships, digital transformation, sustainability

January 26, 2023

CAP full year PBT rises by 79% to N3.1bn

January 27, 2023

Two Stocks Trigger 0.05% Loss At Unlisted Stock Exchange

February 2, 2023

Tinubu distancing self from APC’s failure —Atiku’s aide

February 2, 2023

Why rail sector remains moribund, has no profit in 59 years | The Guardian Nigeria News

February 2, 2023

Nigerian universities and the noise of advancing ideas

February 2, 2023

Moody’s downgrades Nigerian banks’ rating

February 1, 2023

8 Black Financial Influencers You Ought to Follow

February 1, 2023

Despite deadline extension, crowds besiege banks amid scarcity of new notes

February 1, 2023

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell  – Economics Bitcoin News

February 1, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.