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Seeking Alpha 2022-07-06 14:43:29

Wyre integrates with MoneyGram-powered crypto-to-cash service

Wyre, a cryptocurrency infrastructure provider, has integrated with a crypto-to-cash service powered by MoneyGram (NASDAQ:MGI) on the Stellar network (XLM-USD).Recall in June when MoneyGram (MGI) rolled out a crypto-to-cash service in a move that allows digital wallet users in certain countries to send stablecoin USDC (USDC-USD) payments to recipients who can withdraw as cash.Through the integration, Wyre will enable its over 15M end users with the ability to transition between cash and crypto. They can use fiat currencies like the U.S. dollar to load digital currencies such as bitcoin (BTC-USD) into their digital wallet, or cash-out their digital currencies.Moreover, "this new integration with the MoneyGram service on Stellar creates a seamless and accessible experience for our users to make the most out of their assets in the least amount of steps," said Wyre CEO and Co-Founder Ioannis Giannaros.In October 2021, MoneyGram and Stellar Development Foundation, which supports the development and growth of Stellar (XLM-USD), to utilize blockchain technology.

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