Global payments network MoneyGram and the Stellar Development Foundation (SDF), which supports the Stellar blockchain, have extended their partnership for over five years.

This multi-year extension broadens the utility of stablecoins in Latin America. Following its initial introduction in Colombia, the feature is now live within the MoneyGram app in El Salvador.

With support from Stellar, Crossmint, and Circle’s USDC, the MoneyGram app offers customers a US dollar-denominated balance that allows for instant fund receipt, digital dollar holding, and cashing out at nearby retail locations. Further markets across Central and South America are set to come online in 2026, with potential expansion beyond this region.

Five years of partnership and infrastructure

Since 2021, MoneyGram and SDF have developed what they call the world’s largest cash on/off-ramp for digital assets. The MoneyGram Ramps API enables third-party integrations, supporting the in-app stablecoin balance feature.

MoneyGram’s extensive global network covers over 200 countries and territories, with nearly 500,000 retail locations worldwide, providing the physical infrastructure for customers to access their stablecoin balances as cash.

Stablecoins are particularly beneficial in Latin America, where millions of families rely on remittances. These digital assets offer faster fund access and protection against currency volatility, which may be more pronounced in areas with limited traditional banking infrastructure.

Commenting on the partnership, Anthony Soohoo, MoneyGram’s Chairman and CEO, emphasized that the company is establishing an open payments network that seamlessly works across fiat and stablecoin to meet individual needs. Denelle Dixon, SDF’s CEO and Executive Director, highlighted how this collaboration simplifies blockchain technology for customers, enhancing access and reducing costs for large-scale cross-border payments.