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- MoneyGram has bagged the award for Best Use of Blockchain in FinTech”. The award comes after its partnership with The Stellar Development Foundation (SDF).
- The CEO of MoneyGram maintains optimism in Blockchain technology and the future of cross-border innovations.
MoneyGram has been announced as the winner of the “Best Use of Blockchain in FinTech” award, at the 2023 FinTech Breakthrough Awards.
MoneyGram has won an award for the “Best Use of Blockchain in FinTech” category, at the 2023 FinTech Breakthrough Awards. The international award holds a lot of prestige in the fintech industry. It was created to celebrate leading fintech products and companies. MoneyGram has been acknowledged for implementing real-world blockchain use cases, for its unique on/off-ramp digital wallet service.
The award can be credited to the partnership between MoneyGram and the Stellar Development Foundation (SDF). The SDF is a non-profit organization that is committed to pioneering the advancement of Stellar; an open-source network.
The partnership has allowed MoneyGram to provide a solution to one of the crypto industry’s top issues. Through the partnership, MoneyGram is enabling interoperability between crypto and the traditional finance industry. It is worth noting that using Circle’s USDC stablecoin, settlements with MoneyGram, almost in real-time. This can all be credited to the partnership.
Most notably the partnership has made it easy for users of the platform to seamlessly move fiat currencies to digital currencies, and back to cash. By simply accessing MoneyGram retail locations anywhere around the globe, customers can get easy access to fiat currencies.
MoneyGram’s CEO speaks on the future of cross-border payment innovations
An ecstatic Alex Holmes, the CEO of MoneyGram spoke raved about the award. Holmes expressed satisfaction over the recognition that is the ward. He maintains that MoneyGram is committed to developing cross-border innovations. Holmes said.
We’re thrilled to be recognized for our progressive innovation by this prestigious awards program for the world’s leading fintechs. At MoneyGram, we are proud of the work we’re doing to pioneer cross-border payment innovation and excited about the new opportunities we’re creating to connect the world’s communities like never before.
Going forward, Holmes remarked that blockchain technology has the capacity to transform the manner in which money is circulated globally. Pre-funding requirements and overnight settlement limit liquidity in the cross-border payments industry, he acknowledged.
Nonetheless, he believes that the process can be enhanced efficiently if settling is carried out via tokenization. This will create a large number of opportunities in the world of financial services, he concluded.
Denelle Dixon, the CEO and Executive Director of The Stellar Development Foundation stated the importance of the partnership. He particularly highlighted how it is an example of how user friction in accessing financial services can be erased. He asserted.
The Stellar Development Foundation’s mission is to create equitable access to the global financial system using blockchain technology. Our collaboration with MoneyGram is a prime example of how we can remove friction and improve user choice and access to financial services, by recognizing our complementary strengths and working together to deliver new utility to the world.
