Former Ripple Partner MoneyGram Bets on USDC

MoneyGram, one of the largest cross-border payments providers, shares details of its recent integration in the crypto segment. Thanks to the collaboration with OwlTing, Stellar's partner, USDC on- and off-ramps are available in MoneyGram locations across the globe.

MoneyGram access integrates OwlTing for USDC support

MoneyGram, a global payments operator, announces the partnership with OwlTing Group, a Hong Kong cryptocurrency services platform. Thanks to the collaboration, OwlPay Wallet Pro can be seamlessly connected to MoneyGram International accounts.

#MoneyGramAccess expands further with our newest global partner @OwlTing 🌐Bridging #USDC stablecoin and local fiat currencies for OwlPay® Wallet Pro users opens access to the digital economy and brings financial inclusion to underbanked regions.

— MoneyGram (@MoneyGram) December 6, 2024

As such, cash-in operations with the USDC stablecoin and local currencies are now available for customers in 30 MoneyGram's locations globally. USDC cash-out with OwlPay Wallet Pro becomes accessible for clients in all 170 countries and territories of MoneyGram's presence.

USDC (formerly USD Coin) by Circle is the second-largest stablecoin in the world. Its market capitalization is estimated at $41 billion in equivalent.

As covered by U.Today previously, MoneyGram giant has a long track of interactions with crypto-based remittances platforms.

Starting from 2022, MoneyGram allows direct purchasing of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) within its applications.

Bringing crypto opportunities to unbanked population

Also, it utilized ODL, Ripple's XRP-based liquidity corridor for cross-border remittances. MoneyGram was the largest Ripple partner before 2021.

In turn, OwlTing Group collaborates with Stellar since August 2024. As such, MoneyGram establishes the tie with one of the fastest-growing crypto ecosystems of Q4, 2024. The collaboration will unlock new B2B instruments that are particularly important for regions with high inflation rates.

As covered by U.Today previously, Stellar Lumens (XLM), Stellar's cryptocurrency, surprisingly rocketed in November. In the last month, its price peaked over $0.6, printing a 400% increase.