Stellar Invests in MoneyGram, Secures Board Seat for Blockchain Evolution The

Stellar Invests in MoneyGram, Secures Board Seat for Blockchain Evolution The Stellar Development Foundation (SDF) has announced a significant strategic investment in MoneyGram. Two years ago, MoneyGram and SDF entered into a commercial partnership, aiming to streamline cryptocurrency payments and introduce a cash-to-crypto service. This prior collaboration laid the groundwork for the current investment, showcasing the alignment of their visions in the ever-evolving financial landscape. SDF’s involvement in MoneyGram’s trajectory intensified during MoneyGram’s go-private transaction with Madison Dearborn Partners (MDP). As a result of this transaction, SDF became a minority investor in MoneyGram (MGI). The investment was drawn from SDF’s own cash treasury, earmarked to support its operational endeavors. Notably, this investment diverged from the Enterprise Fund, which primarily focuses on startups and early-stage companies. Denelle Dixon, SDF CEO and Executive Director, emphasized that this move represented a novel use of SDF’s treasury resources. By delving into blockchain technology, MoneyGram aims to fortify its digital presence and explore novel avenues for growth.