MoneyGram CEO Sees a Future in Stablecoin Remittances!
MoneyGram International Inc. is planning to launch a service that would allow users to send stablecoins and easily convert them to hard currency using the Stellar blockchain.
A partnership with Stellar could help MoneyGram spread cryptocurrency usage in developing countries.
Last year, $589 billion in remittances flowed to developing countries, according to the World Bank. This year, remittances are expected to increase as well.
Last year, El Salvador made Bitcoin legal tender, and remittances account for over 20% of the country's gross domestic product.