DALLAS—Moneygram has announced the integration of USDC, a dollar-pegged stablecoin, as a settlement asset for its cash to crypto and crypto to cash program.
The company said it will first allow users to exchange USDC for cash and vice versa in certain markets, including Canada, Kenya, the Philippines, and the U.S., with expectations of extending it globally later, Bitcoin.com reported.
The program permits customers needing to exchange USDC for fiat currencies, or that are selling and looking to acquire crypto with their fiat currencies, to use the Moneygram app to arrange an exchange—going to any of the offices of the company in the Canada, Kenya, the Philippines, and the U.S. to complete the operation, Bitcoin.com further reported.
“For Moneygram, this move is all about bringing financial inclusion to people that are still underbanked and underserved in some markets that present difficulties for its citizens to open bank accounts,” according to the report.
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