MoneyGram to launch non-custodial wallet for USDC transfers

As reported by Foresight News, MoneyGram, an outstanding payment services company, has announced plans to introduce a noncustodial wallet designed to facilitate the seamless transfer of funds between various fiat currencies and the US dollar stablecoin (USDC). MoneyGram will maintain its ongoing partnership with the Stellar blockchain to ensure the functionality and support of this wallet.

According to a statement made by MoneyGram’s CEO, Alex Holmes, the introduction of the non-custodial wallet will empower users to deposit physical cash and store it as USDC, which can subsequently be converted into various other currencies. Initially, this wallet will be accessible exclusively in areas where KYC procedures are in place. MoneyGram is attaching blockchain technology as part of its vision to revolutionize MoneyGram into a worldwide ATM-like concept.

“We’re redefining paradigms around what it really means to move money between fiat currencies.”