{"id":137659,"date":"2023-09-02T05:19:09","date_gmt":"2023-09-01T23:49:09","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=137659"},"modified":"2023-09-02T05:19:09","modified_gmt":"2023-09-01T23:49:09","slug":"stellar-dips-into-treasury-to-buy-minority-stake-in-moneygram-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/stellar-dips-into-treasury-to-buy-minority-stake-in-moneygram-crypto-news\/","title":{"rendered":"Stellar dips into treasury to buy minority stake in MoneyGram – Crypto News"},"content":{"rendered":"
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The Stellar Development Foundation (SDF) has become a minority investor in payments provider MoneyGram International.<\/p>\n

In an Aug. 15 X post, Stellar Development Foundation CEO and Executive Director Denelle Dixon announced the new investment saying the decision to provide funds to MoneyGram \u201cwas an easy one.\u201d<\/p>\n

In an accompanying blog post<\/a>, Dixon added the investment was made out of the SDF’s own cash treasury using assets set aside to support the operations of the Foundation. This was used instead of Stellar\u2019s Enterprise Fund used to invest in startups and earlier-stage companies.<\/p>\n

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The decision to invest in @MoneyGram<\/a> was an easy one. After years of getting to know the business and the teams, we are excited to take part in MGI\u2019s next chapter. It\u2019s been an awesome few years working together, and we are excited for what\u2019s next!https:\/\/t.co\/PYAKHeXRxx<\/a><\/p>\n

\u2014 Denelle Dixon (@DenelleDixon) August 15, 2023<\/a><\/p><\/blockquote>\n

While Dixon did not divulge financial details, she did state the investment gave SDF a seat on MoneyGram’s Board of Directors.<\/p>\n

She explained the investment positions from SDF will contribute to MoneyGram by expanding its digital business and exploring blockchain technology. <\/p>\n

\u201cMost importantly, it signifies a rededication from MGI, one of the world\u2019s leading global financial technology, to becoming a digital-forward leader in fintech.\u201d<\/p><\/blockquote>\n

The Stellar Development Foundation established a commercial partnership with MoneyGram in 2021 but has been collaborating on tools and technology with the firm since 2019. <\/p>\n

In November 2022, MoneyGram enabled<\/a> United States-based users to buy, sell and hold cryptocurrency via its mobile app. <\/p>\n

In July 2023, the firm announced a new account deposit service for consumers in Venezuela through its partnership with local bank Banesco. <\/p>\n

Related: <\/em><\/strong>Stellar partners with UNHCR to give Ukrainian refugees cash via USDC<\/em><\/strong><\/a><\/p>\n

Stellar\u2019s native token Stellar (XLM<\/a>) did not register a reaction to the announcement, dropping 4.4% on the day to $0.129 at the time of writing, according to Cointelegraph price data. <\/p>\n

XLM got a lift<\/a> following Ripple\u2019s partial court victory but has declined 28% since then and remains down 85% from its January 2018 all-time high of $0.875.<\/p>\n

Journeys: Herv\u00e9 Larren on Bitcoin, Apes and the psychology of \u2018blue-chip\u2019 NFTs<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Stellar Development Foundation (SDF) has become a minority investor in payments provider MoneyGram International. In an Aug. 15 X post, Stellar Development Foundation CEO and Executive Director Denelle Dixon announced the new investment saying the decision to provide funds to MoneyGram \u201cwas an easy one.\u201d In an accompanying blog post, Dixon added the investment […]<\/p>\n","protected":false},"author":2,"featured_media":137660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-137659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=137659"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137659\/revisions"}],"predecessor-version":[{"id":148343,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137659\/revisions\/148343"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/137660"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}