Case Study: MoneyGram International connects cash-to-crypto payments with Stellar

How MoneyGram International Connects the Digital to Physical

MoneyGram International (MGI), a global financial technology company, faced the challenge of connecting the digital asset economy to the massive cash-based informal economy. Their goal, with vendor Stellar, was to solve the "last-mile" problem of allowing the unbanked and underbanked to leverage digital currencies without needing a traditional bank account or credit card.

The solution implemented by Stellar was the integration of MoneyGram Ramps, a product enabled by the Stellar blockchain and its SEP-24 standard. This provided cash-to-crypto on and off-ramps, allowing users to convert physical cash to USDC and back at thousands of participating MoneyGram locations. The results were significant, with Stellar helping MGI achieve a presence in over 170 countries, 480,000 locations, and a payment volume exceeding $29 million, all while integrating with 21 digital wallets to create more equitable financial access.

MoneyGram International Inc

Alicia Smith

Head of Business & New Fintech Products