MoneyGram’s Game-Changer: Launching a Non-Custodial Wallet for Easy Fiat and USDC Exchanges

MoneyGram, a leading global payment company, has unveiled its new non-custodial wallet, bringing increased flexibility and cost efficiency to users. This move highlights MoneyGram’s growing interest in cryptocurrency and its commitment to leveraging blockchain technology for seamless fund transfers worldwide. MoneyGram’s interest in crypto and blockchain technology is evident through the introduction of its non-custodial wallet. By embracing blockchain technology, the company aims to revolutionize the way people move funds globally, providing a secure and efficient solution for financial transactions.

Features of MoneyGram’s Non-Custodial Wallet

The new MoneyGram wallet offers an array of features to enhance user experience. Firstly, it enables users to seamlessly exchange funds between fiat currency and the USDC stablecoin, providing greater flexibility in managing their finances. Additionally, users have the option to deposit cash and hold funds in the form of USDC until they are ready to transfer them into their preferred fiat currency.

Compatibility and Regulatory Considerations

To navigate regulatory challenges, MoneyGram’s non-custodial wallet is exclusively compatible with other MoneyGram wallets. By ensuring compatibility within its own ecosystem, the company aims to avoid potential regulatory issues, thereby fostering a seamless and compliant user experience.

Cost Reduction Goals

MoneyGram endeavours to reduce cross-border transaction fees to less than 1%, aligning with the typical cost associated with digital transactions. To achieve this, the company plans to utilize the USDC stablecoin for remittances, thereby lowering costs and increasing transactional efficiency.

Wallet Accessibility

Initially, access to MoneyGram’s non-custodial wallet will be restricted to approximately 40 countries with digital Know Your Customer (KYC) capabilities. This strategic move enables MoneyGram to maintain compliance with regulatory requirements while gradually expanding its services to a wider user base.

Partnership with Stellar

In a significant milestone, MoneyGram recently secured an investment from Stellar, making the blockchain technology provider a minority holder in the company. This collaboration allows MoneyGram to benefit from Stellar’s expertise in blockchain technology research, further enhancing its position in the industry.

Previous Crypto Initiatives

MoneyGram’s commitment to cryptocurrency is not new. Last year, the company integrated a crypto trading feature into its app, enabling users to buy, sell, and hold cryptocurrencies. This innovation was made possible through MoneyGram’s strategic investment in Coinme, solidifying its position in the crypto sphere.

Cancellation of Partnership with Ripple

Previously, MoneyGram had partnered with Ripple, utilizing its XRP cryptocurrency for cross-border transactions and settlements. However, following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple, the partnership was canceled, reflecting MoneyGram’s dedication to complying with regulatory frameworks.

MoneyGram’s introduction of the non-custodial wallet signifies a significant step towards embracing cryptocurrencies and blockchain technology. By offering increased flexibility, cost efficiency, and compatibility within its own ecosystem, MoneyGram solidifies its position as a frontrunner in the evolving financial landscape. With its focus on reducing transaction fees and expanding its services globally, MoneyGram is poised to revolutionize the way funds are moved and managed across borders.

Explore more

Gemini Usage Limits – Review

Imagine a world where AI tools can churn out content, analyze vast datasets, and solve complex problems in mere seconds, but only if you know the boundaries of their power. Gemini Apps, developed by Google, have emerged as a cornerstone for professionals and casual users alike, offering cutting-edge assistance in tasks ranging from research to creative output. Yet, with great

How Does Databricks’ Data Science Agent Boost Analytics?

In an era where data drives decision-making across industries, the sheer volume and complexity of information can overwhelm even the most skilled data practitioners, making efficiency a constant challenge. Databricks, a prominent player in the data analytics and AI space, has unveiled a transformative tool designed to address this issue head-on. Known as the Data Science Agent, this feature enhances

What Are the Best Books for Data Science Beginners in 2025?

I’m thrilled to sit down with Dominic Jainy, an IT professional whose deep expertise in artificial intelligence, machine learning, and blockchain has made him a go-to voice in the tech world. With a passion for exploring how these cutting-edge fields transform industries, Dominic also has a keen interest in guiding aspiring data scientists. Today, we’re diving into the best resources

How Is ESG Reshaping European Employment and Labor Laws?

Imagine a corporate landscape where sustainability isn’t just a buzzword but a legal mandate, where social equity dictates hiring practices, and governance defines accountability at every level. Across Europe, Environmental, Social, and Governance (ESG) principles are no longer optional for businesses; they are becoming entrenched in employment and labor laws, reshaping how companies operate. This roundup dives into diverse perspectives

How Does Integrity Jobs Redefine Staffing with a Human Touch?

Introduction to Integrity Jobs and Staffing Challenges In today’s fast-paced job market, finding the right career fit or the perfect candidate often feels like an uphill battle, with countless resumes lost in digital black holes and employers struggling to identify talent that truly aligns with their needs. This challenge underscores a critical need for a staffing approach that prioritizes genuine