MoneyGram Taps Stablecoins To Shield Colombians From Peso Weakness
According to multiple reports, MoneyGram is rolling out a new mobile app in Colombia that lets users receive, hold and move money using USD-backed stablecoins, specifically USDC. Related Reading: Ethereum Giant The Ether Machine Aims For US Public Debut The service is being positioned as a hybrid: a stored-value USD balance that can be funded, […]
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Avalanche (AVAX) is steadily expanding its international presence and now operates in Asia, gaining momentum in both Korea and Japan with new stablecoin payment solutions. Related Reading: MoneyGram Taps Stablecoins To Shield Colombians From Peso Weakness The South Korean custodian BDACS recently launched KRW1, the country’s first Korean won–backed stablecoin, fully collateralized with deposits at […]
Poland’s main bourse has opened a new door for investors who want Bitcoin exposure without buying the coin directly. The Warsaw Stock Exchange (GPW) has listed the Bitcoin BETA ETF, a fund that gives exposure to crypto via futures contracts rather than holding spot Bitcoin. Related Reading: MoneyGram Taps Stablecoins To Shield Colombians From Peso […]
BBVA, a private bank based in Spain, released an article that states Latam users are very interested in their crypto-powered solutions. The institution informed that close to 20% of the users of their New Gen accounts, which are available from Switzerland, are Colombians who are attracted by the crypto services offered by these accounts.
Colombians Attracted by Crypto Services, According to BBVA
Cryptocurrency solutions and their associated services are being embraced more and more by Latam users due to the characteristics of their economies. According to BBVA, a Spanish bank....
In recent years, major corporations have been looking for ways to incorporate cryptocurrencies into their operations. So naturally, these companies want the benefits of blockchain without having any responsibility or risk associated with them – which is why we’ve seen so many starts dipping their toes in the water. MoneyGram is the latest company to […]
MoneyGram is launching its own entry into the digital custody space with an app designed to hold both traditional fiat currencies and stablecoins. A trial run is scheduled in Colombia before MoneyGram expands to other markets. It’s a carefully planned decision, as most remittances in Colombia come from abroad, usually in USD. The underlying blockchain is powered by Stellar and Crossmint, with customer balances held in Circle’s USDC. While MoneyGram’s new wallet appears to be a good way to bring existing MoneyGram customers into stablecoins, support for other cryptocurrencies is limited.....