Moneygram, the ubiquitous Send and Recend Cash Network for detail customers, has made stablescoins and US blockchain tables.
Customers of the Latin American country in Colombia, where Moneygram has a large retail network of more than 6,000 locations, will be the first to use the new application to receive and store Stablecoin payments, with plans to extend to additional markets in the near future.
Colombia is the ideal launch market, explains Anthony Soohoo, CEO of Moneygram. He is a major of the entrant paid corridor where families receive more than 22 times the money they send abroad and where the Colombian peso has lost more than 40% of its value in the past four years.
Regarding the progress of stablecoins, Soohoo compares it to other killers such as the humble spreadsheet, which led adoption at the start of the PC era, or what the browser has done for the Internet, or GPS and mobile phones.
“Stablecoins are really the Killer of Crypto and I think we are just at dawn of all possibilities,” said Soohoo in an interview. “Our customers are able to keep and store a stable currency and which allows real -time settlement. And with the engineering law adopted in the United States, we now have a framework in terms of regulation of how it will be regulated and how we can work with it. ”
Under the hood, the new MoneyGram application is fueled by the Stablecoin USDC of Circle and Stellar, the fast and cheap blockchain, as well as Crossmint, a portfolio infrastructure platform and stablecoin payment.
By backing up, Moneygram has almost half a million locations where customers can take money or send money, said Soohoo. As a supplier to send funds, IT serves more than 20,000 corridors around the world. Moneygram is also found to be the largest ramp in cash on and out of the crypto, added Soohoo.
“When you talk about global payments, many companies can have a strong presence and brand on a single market, but when you leave the United States or the United Kingdom, for example, no one knows them,” said Soohoo. “We have been there for many years now and our brand is really global.”
