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MoneyGram, the international money transfer firm, will allow crypto companies to make use of its thousands of physical locations worldwide to provide cash deposit and withdrawals for their users.
The company on Friday launched a tool for developers of crypto exchanges, wallets, and stablecoin apps to easily integrate with its global cash network.
#Crypto companies are aiming to disrupt traditional payment firms like MoneyGram in cross-border transactions and remittance businesses. But MoneyGram’s CEO Anthony Soohoo says his company can play a key role by solving a major pain point for crypto firms. “The missing link is always the ability to have on-and-off ramp [with] cash in physical locations,” he said. “Our global physical locations are a tremendous asset for us.”
MoneyGram will move money using Circle’s USDC coin, with United Texas Bank, one of MoneyGram’s correspondent banks, serving as a settlement bank. It will expand to support more stablecoins in the future, Soohoo said.
https://www.prnewswire.co..

www.prnewswire.com
Introducing MoneyGram Ramps: Purpose-Built by Developers to Simplify Cash and Crypto Connection
/PRNewswire/ -- MoneyGram, a leading global payments network for consumers, businesses and communities, today announced the launch of MoneyGram Ramps, a...