MoneyGram to launch noncustodial crypto wallets by Q1 2024

MoneyGram plans to launch a noncustodial crypto wallet built on the Stellar network in the first quarter of 2024, CEO Alex Holmes announced at the Stellar Development Foundation's Meridian conference. The wallet was created with Cheesecake Labs and will use MoneyGram's fiat on and off-ramp services, with no charge to use it until June 2024. Users will be able to move between fiat and digital currencies using stablecoin technology, send digital assets to other users, and cash out at any partner MoneyGram facility. The Stellar Development Foundation acquired a minority stake in MoneyGram in August, giving it a seat on the company's board.