MoneyGram is launching a crypto-to-cash service on the Stellar blockchain

MoneyGram, the money transfer company known for peer-to-peer payments, is launching an on- and off-ramp service for digital wallets.

This will make it easy for digital wallet customers to move between fiat to cryptocurrency to fiat again, without needing a bank account or credit card, the company said in a press release. 

The company is working in partnership with Stellar Development Foundation, a non-profit that develops the Stellar blockchain. 

The service is initially being rolled out in a few select markets including Canada, Kenya, the Philippines and the US, at any MoneyGram location in these countries. The company said it was focusing on these markets because they are "remittance markets," or places where there are a high volume of cross-border transactions. 


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