Payments giant MoneyGram plots noncustodial wallet launch

The Stellar-enabled wallet will roll out next year, the company stated

article-image

BalkansCat/Shutterstock modified by Blockworks

share

MoneyGram, a company primarily known for its cash transfer services, has plans to offer a noncustodial cryptocurrency wallet by the first quarter of 2024.

The wallet will be built on the Stellar network, which is unsurprising given MoneyGram’s longstanding partnership with the Stellar Development Foundation (SDF). MoneyGram first integrated with Stellar back in October 2021 so customers could convert USDC into cash and vice versa. 

Software design company Cheesecake Labs designed the wallet, which will be offered as a zero-fee service until June 2024. The wallet will also have access to MoneyGram’s existing fiat on- and off-ramps on Stellar. 

MoneyGram’s digital wallet will benefit from a significant network of physical ATMs and payment centers which will allow users to easily off-ramp. There are 350,000 money transfer locations globally, according to the company. 

“Through the services we provide in partnership with SDF, MoneyGram has made strides to create equitable access to the global financial system,” MoneyGram CEO Alex Holmes said in a statement.

Right now, MoneyGram customers can cash out their digital assets in over 180 countries and buy digital assets with cash in over 30 countries, the company said. 

Beyond the widespread ATM access, MoneyGram’s wallet users will also be able to send USDC to other wallet users. 

Once the wallet rolls out next year, MoneyGram said it would “expand” its capabilities and introduce new features. There was no mention of what capabilities or features would be added, and a MoneyGram representative didn’t immediately return a request for comment.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Bitwise investment strategist expects end to “the wild-west phase of public companies …turning into crypto vehicles”

article-image

The first Solana treasury company is set to make its US debut

article-image

The Solana DAT reportedly plans to raise $1 billion

article-image

YO’s new yoEUR vault lands as incentives try to pull EURC onchain, but fragmented bridges and caps keep markets segmented

article-image

Astana regulator begins trial accepting USD-backed stablecoins for payments through Bybit integration

by Blockworks /
article-image

The Trump-backed DeFi project is believed to have blacklisted Sun’s wallet, triggering market pressure

by Blockworks /