MoneyGram Embeds Blockchain in Cross-Border Payments, Launches MGUSD Stablecoin
CEO Anthony Soohoo says the remittance firm has moved from testing blockchain to running it inside its global payments network, and has introduced its own MGUSD stablecoin.
AfroEuropa Newsroom
AfroEuropa desk
MoneyGram is integrating blockchain technology into its global payments infrastructure, with Chief Executive Anthony Soohoo describing a shift from experimentation to full integration, according to BitKE.
Soohoo said the company is using blockchain behind the scenes to speed up settlement and lower operating costs, rather than marketing crypto directly to consumers. The aim, he told media, is to make cross-border payments faster, cheaper and more transparent. Comparing the approach to consumer electronics, he said he could not name the processor inside his iPhone but knew it was faster, per BitKE.
Keep reading
Crypto Stocks Fall After Senate Declines to Advance Clarity Act
Shares of Coinbase, Circle and Galaxy dropped after the U.S. Senate failed to move forward a crypto market structure bill.
Other highlights
Health and Legal Tech Startups Draw Fresh Funding Across US, MENA and Europe
From women's health diagnostics to construction procurement and IP enforcement, four startups have secured new capital to expand their platforms.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
