Stellar Lumens: MoneyGram named winner of “Best Use of Blockchain in FinTech” award – XLM a major benefactor of partnership
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- MoneyGram has won the award for best use of blockchain in FinTech”. The award comes after the partnership with The Stellar Development Foundation (SDF).
- MoneyGram CEO maintains optimism in Blockchain technology and the future of cross-border innovations.
MoneyGram has been announced as the winner of the “Best Use of Blockchain in FinTech” award at the FinTech Breakthrough Awards 2023.
MoneyGram has won an award for the category “Best Use of Blockchain in FinTech”, at the FinTech Breakthrough Awards 2023. The international award holds a lot of prestige in the fintech industry. It was created to celebrate leading fintech products and companies. MoneyGram has been recognized for implementing real blockchain use cases, for its unique on/off ramp digital wallet service.
The award can be credited to the partnership between MoneyGram and the Stellar Development Foundation (SDF). SDF is a non-profit organization committed to pioneering the development of Stellar; an open source network.
The partnership has enabled MoneyGram to offer a solution to one of the crypto industry’s most important problems. Through the partnership, MoneyGram enables interoperability between crypto and the traditional financial industry. It is worth noting that using Circle’s USDC stablecoin, settlement with MoneyGram, almost in real time. All this can be credited to the partnership.
In particular, the partnership has made it easy for users of the platform to seamlessly move fiat currencies to digital currencies and back to cash. By simply accessing MoneyGram retail locations anywhere around the world, customers can easily access fiat currencies.
MoneyGram’s CEO talks about the future of payment innovations across borders
An ecstatic Alex Holmes, CEO of MoneyGram spoke enthusiastically about the award. Holmes expressed satisfaction at the recognition that is the department. He maintains that MoneyGram is committed to developing innovations across national borders. said Holmes.
We are thrilled to be recognized for our progressive innovation by this prestigious award program for the world’s leading fintechs. At MoneyGram, we are proud of the work we do to pioneer payment innovation across borders and excited about the new opportunities we are creating to connect the world’s communities like never before.
Going forward, Holmes noted that blockchain technology has the capacity to transform the way money is circulated globally. Advance funding requirements and overnight settlements limit liquidity in cross-border payments, he acknowledged.
Nevertheless, he believes that the process can be improved effectively if the settlement is carried out via tokenization. This will create a large number of opportunities in the world of financial services, he concluded.
Denelle Dixon, Executive Director and CEO of The Stellar Development Foundation stated the importance of the partnership. He highlighted in particular how it is an example of how user friction when accessing financial services can be erased. he claimed.
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Stellar Development Foundation’s mission is to create equitable access to the global financial system using blockchain technology. Our collaboration with MoneyGram is a great example of how we can remove friction and improve user choice and access to financial services, by recognizing our complementary strengths and working together to deliver new utility to the world.
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