Moneygram system to start accepting cryptocurrencies

MoneyGram, a money transfer company, plans to launch a service that will allow customers to send money to other countries using stablecoins.

The company has entered into a partnership with Stellar Development, which has developed the Stellar (XLM) blockchain, Bloomberg reports. The new service will allow customers to convert their stablecoins into fiat currencies wherever MoneyGram operates.

«Despite the strong volatility, I think cryptocurrencies will stay with us for a long time. It is very important to accept this and promote their adoption,» said Alex Holmes, CEO of MoneyGram.

Earlier, MoneyGram tried to establish cooperation with Ripple (XRP), but after the SEC’s lawsuit against Ripple, it stopped cooperation.