One of the biggest money transfer businesses in the world, MoneyGram, has announced intentions to introduce a non-custodial cryptocurrency wallet in Q1 2024. With the help of the wallet, customers from all over the world will be able to switch without any hassle from fiat to digital currency and back again.
Because the MoneyGram cryptocurrency wallet is non-custodial, users will have complete control over their private keys.
The wallet will be run by Stellar, a decentralized open-source network for currencies and payments, which is being developed in collaboration with Cheesecake Labs.
Additionally, MoneyGram’s current money transfer network will be incorporated into the wallet, making it simple for customers to switch from fiat money to cryptocurrencies and vice versa. MoneyGram guarantees that the transaction costs will be waived until 2024.
Alex Holmes, chairman and CEO of MoneyGram, stated, “We are thrilled to work with Stellar to deliver our consumers a non-custodial crypto wallet that is simple to use and gives them the protection they require. “This new service will give our customers more control over their money and make sending and receiving cryptocurrencies easier for them.”
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