Moneygram builds a stablecoin fiat transfer platform with Stellar

• The financial service company based in the USA strives to use the potential of the threshold markets, since most recipients of transfers are outside the country
• The growth of the demand for stable coins in connection with the increase in the offer last year could be a probability of success

The giant for cross -border payments and money transfers, Moneygram, has expressed his ambitions to close the gap between traditional finance and crypto by offering money transfer services. The company announced a strategic partnership with the Stellar-Blockchain on Sunday to build a platform that enables users of the Stellar Wallet to send the USD coin to other users who can then be paid out in Fiat.

This stablecoin-based platform offers users the opportunity to convert stable coins into fiat currencies. In an interview with Bloomberg, the company's CEO, Alex Holmes, emphasized that the crypto world and the fiat-defined world were incompatible.

The introduction of stablecoins by Moneygram is a trust in crypto

The recent turbulence on the cryptom market has taken care of many investors and made them equally concerned about the future. Massive liquidation numbers were reported this month - a reflection of the losses that traders suffered. The overall market capitalization has shrunk from a maximum of $ 1.8 trillion to $ 1.3 trillion at the time of writing this article.

This break -in institutes that see potential in these assets did not prevent them from investing in the unused potential. In a (n Interview Despite the recent volatility, Bloomberg expressed his trust in digital currencies and promised to take over and make them a mainstream.

The partnership between Moneygram and Stellar could also increase the income that flows into the company's coffers because more and more countries are introducing digital assets as exchange

The latest collapse of Terra makes the introduction of stable coins unsure

admittedly that the partnership between Moneygram and Stellar could not come at a worse time. After Terra's algorithmic stablecoin, VAT, the dragging with one of his collateral, Luna, has been tightened, the official control was tightened.

The collapse of VAT also questioned the stability of the so -called stable coins. Since then, some users around the world have expressed their reluctance to the introduction of stable coins, with some concerns that the same fate could happen to other StableCoin projects.