MoneyGram and SDF have hit the first major milestone in the partnership by launching a live cash-in and cash-out pilot in the U.S.

Early during October, MoneyGram International announced their partnership with the Stellar Development Foundation to integrate the Stellar blockchain into MoneyGram’s network to enable cash funding and payout in local currency with Stellar USDC, which can be completed with near-instant backend settlement capabilities.

MoneyGram and SDF have launched a live cash-in and cash-out pilot in the U.S. The pilot participants will now be able to deposit cash into their digital wallets by participating in MoneyGram locations to send payments internationally via Stellar USDC.

This pilot will make it possible for participants to exchange Stellar USDC for any cash currency, which will be supported on the MoneyGram platform.

Notably, MoneyGram, payments company was the first money transfer company to use blockchain technology at scale as part of its FX trading.

Denelle Dixon expressed:  “You can walk into any MoneyGram agent, give them your cash, and within 5 seconds see it within your wallet as Stellar USDC.”  Everysince, the company has been investing in blockchain technology making innovative partnerships while focusing on leading the evolution of P2P payments and money transfers.

Community Response:  I don’t understand why you keep talking about USDC.  Your token is XLM not USDC.  Do you do something to increase the value of XLM. You are doing more to promote USDC than XLM.

The reason is USDC is issued on the stellar blockchain. It literally requires XLM in several aspects to be used.

Just went in to a local MoneyGram and asked them about this and they looked at me like I’m crazy.

Thanks, and I understand that and just needed clarity on whether you’re purchasing Stellar the token or USDC stable coin when you walk into any MoneyGram.

It means you are purchasing USDC coin in the form of stellar token named USDC, you can’t send Stellar USDC to Ethereum USDC directly it is different network but same value.

Stellar USDC? What does that even mean? Is it Stellar or is it USDC?  USDC on the Stellar network. Like USDC on Ethereum but transferred in seconds for fractions of a penny. This is not new.

A sad attempt to create a pump for XLM.

What about the fees to send that to another country? Stellar’s fees are very low. It can be sent internationally already.

Will this partnership increase the use case of XLM or its price?