Stellar Network To Support MoneyGram’s Crypto-To-Cash Service
Per a press release shared with Bitcoinist, MoneyGram and Stellar are strengthening their cooperation. The payment company has begun the deployment of a crypto-to-cash service on this blockchain. This product will operate as the “first of its kind global on and off-ramp” service. Related Reading | Ser Anthony Hopkins Ready To Become An NFT Degen, Bought […]
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The payment service, which is powered by the Stellar blockchain, will enable USDC settlement with MoneyGram in “near-real-time.” Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients. The service is being rolled out across several key remittance markets, including Canada, the United States, Kenya and the Philippines, Circle and MoneyGram announced Friday. Global cash-out functionality will be available by the end of June. To....
Payment giant MoneyGram International continues to cement its partnership with the Stellar ecosystem. Via an official post, the company announced a new stage for its collaboration by deploying a live cash-in and cash-out pilot initiative in the United States. Related Reading | Stellar To Launch New Europe-Africa Payment Corridor With This Partner After ending its relationship with payment solution company Ripple due to the U.S. SEC lawsuit against its executives, MoneyGram established a collaboration with the Stellar Development Foundation. In a little under 2 months, the partners....
ICICI Bank and three other financial services platforms have partnered with Stellar cryptocurrency platform to enable blockchain based fund transfer. The Indian fintech sector has lately been in the news a lot. In yet another milestone achievement, one of the leading banking institution — ICICI has partnered with Stellar blockchain platform. In the latest release, Stellar has announced partnerships with not one but four different entities across the world. In addition to ICICI Bank, other platforms include Coins.ph — a Philippines-based mobile financial services provider; Flutterwave — a....
The Stellar Foundation has released details about the new consensus protocol it hopes to deploy on the Stellar network as early as this summer. Founded on a concept called federated Byzantine agreement, the Stellar Consensus Protocol is intended to replace Stellar's existing consensus protocol, itself is based on the system used by competitor Ripple Labs. The Stellar team said in December that it was working to replace its existing protocol following network issues last September. The Stellar Foundation, the organization that oversees the development of the Stellar network, published the....
Developers will now be able to build on Stellar's distributed network following an upgrade to its codebase which will also protect it against forking. According to a blog post by founder Jed McCaleb, the upgraded network is now more secure, scalable and modular than before. He added: 'The Stellar Consensus Protocol (SCP) optimises for safety rather than liveness when the network loses quorum - meaning the system is secure against forking. The Stellar Core code is now more comprehensible and elegant. Less than half the size of the previous codebase, it runs faster and uses less memory and....