The remittance service of MoneyGram operates on the network a network refers to all nodes in the operation of a blockchain at any given moment in time. of Stellar and take advantage of the benefits of the stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. USDC. Users can make transfers and recipients will be able to withdraw cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. at authorized branches.
- Service of MoneyGram available in Canada, USA, Kenya and the Philippines.
- It will be available in more countries by the end of June.
- Users send USDC via Stellar and recipients receive fiat money in branches.
The company that offers services for sending remittances in many countries, MoneyGram, announced today the launch of its new payment channel linked to the stablecoin USD Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. (USDC) which is already available in countries such as Canada, USA, Kenya and the Philippines.
MoneyGram launches its new remittance service with USDC
The announcement came during the event Consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. 2022, in which the CEO of the company participated in one of the panels Stellar Foundation, Denelle Dixon. In this regard, he commented that this new transfer channel operates on the network of Stellar, y que ayudará a la población mundial no bancarizada a acceder a la economía digital digital technologies are these electronic tools that have the ability to generate, store or even process data. por primera vez contando con un servicio cripto-fiat que funciona en tiempo real.
– Stellar (@StellarOrg) June 10, 2022
Elaborating on the latter, Dixon said that some 1.7 billion unbanked unbanked refers to those that are either unable to access banking services, or choose not to. adults could benefit, as this is one of the many solutions being developed with technology. Blockchain, whose main emphasis is to provide financial access mechanisms to all those who have been left out.
Regarding the remittance service of MoneyGram, this will allow users to send funds USDC to recipients worldwide from their wallets, which beneficiaries will be able to withdraw in cash through their respective branches. For now it will be available in the aforementioned countries, but a wider international rollout is expected by the end of this month. Additionally, transfers with the stablecoin do not include the payment of fees during the first year of operation.
MoneyGram and USDC
The announcement made today confirms the alliance of MoneyGram with the team of USDC y Stellar, precisely for the design of products and services that improve the quality of life of stakeholders in different parts of the world.
Let’s keep in mind that at the end of May, the CEO of MoneyGram, Alex Holmes, commented in an interview for Bloomberg who had a very good perspective on the role of stablecoins for remittance services, asserting that cryptocurrencies in general could go hand in hand with fiat money to meet needs:
“The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. world and the fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. world are not really compatible today. We are trying to be a bridge between the cryptocurrency world and the fiat world.”
“[Cryptocurrencies] are obviously here to stay and are going to be here for a long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. time despite the recent sell-off and volatility… I think embracing them [and] bringing them into the mainstream is important.”
- Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. falls back to USD $29,000 after unexpected 8.6% spike in U.S. inflation a general increase in prices and fall in the purchasing value of money.
- There is interest among pension funds to diversify to include cryptocurrencies, says Grayscale CEO
- U.S. Treasury Secretary Janet Yellen calls for crypto regulation as “very risky” option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. for retirees
Source: Cointelegraph , Twitter
Version by Angel Di Matteo / DiarioBitcoin
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