What MoneyGram released
MoneyGram released an updated app and website on 19 October that combine cross-border digital transfers, cash access and stablecoin-enabled functions, the company said. The company said the service is live in supported markets and offers support in 40 languages. Stablecoin infrastructure sits behind the consumer interface, and consumers do not need to manage the technology, according to MoneyGram.
What users can do
MoneyGram said consumers can send money to bank accounts, debit cards, digital wallets, retail locations and other MoneyGram app users. They can receive and hold funds digitally, pay bills, top up mobile phones, access cash through the retail network and, in select markets, hold a dollar-denominated balance. The company said users can also earn rewards by referring friends and family.
Network and reach
MoneyGram said its platform connects consumers to more than five billion digital endpoints, including wallets, bank accounts and cards, and to nearly 500,000 retail locations worldwide. The company said it operates in more than 200 countries and territories and serves more than 60 million active customers.
Transfers within the app
MoneyGram said consumers in the United States can now send directly to MoneyGram app users in markets including Colombia and El Salvador. Recipients can receive and manage funds digitally and retain access to cash through the retail network where available, the company said.