Yesterday remittance company MoneyGram International announced a new board of directors that included the CEO of the Stellar Development Foundation (SDF), Denelle Dixon. It turns out that SDF made a minority investment in MoneyGram when it recently delisted from the stock market as part of a buyout.
The relationship isn’t a new one. In 2021 the organizations partnered to enable customers to make payments with stablecoins or settle incoming money as USDC on the Stellar blockchain. Dixon described them as the leading cash-to-crypto on and off-ramps.
As a result, Stellar became intimately familiar with MoneyGram and invested when the opportunity arose. Dixon was keen to emphasize that the money came from the SDF treasury used for SDF operations, not its Enterprise Fund for investing in startups.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
