{"id":93736,"date":"2024-09-18T06:10:14","date_gmt":"2024-09-18T10:10:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=93736"},"modified":"2024-09-18T06:10:32","modified_gmt":"2024-09-18T10:10:32","slug":"moneygram-stellar-cex-io-for-crypto-to-cash","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/moneygram-stellar-cex-io-for-crypto-to-cash\/","title":{"rendered":"MoneyGram, Stellar join CEX.io for Crypto to Cash Conversions"},"content":{"rendered":"\n

Cex.io exchange has announced the incorporation of the Stellar blockchain<\/a> and financial services company MoneyGram to offer users cash-in and cash-out options through USDC conversion.<\/p>\n\n\n\n

\"MoneyGram,
MoneyGram, Stellar join CEX.io for Crypto to Cash Conversions<\/figcaption><\/figure>\n\n\n\n

The partnership will increase the availability of crypto cash-in and cash-out services to CEX.io users, allowing for the conversion of Circle USD to physical currency and vice versa at participating MoneyGram locations.<\/p>\n\n\n\n

Joel Kosloski, the chief information security officer and chief information officer at CEX.io, informed Cointelegraph that the exchange is “actively working” to broaden the integration to additional countries.<\/p>\n\n\n\n

Locational implications of the new service<\/h2>\n\n\n\n

The integration's primary objective is to facilitate the funding and cashing out CEX.io accounts with USDC for consumers in the European Economic Area\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (EEA), Africa, Latin America (LATAM), and other regions.<\/p>\n\n\n\n

It is also possible for users in Austria, Hungary, Ireland, Lithuania, and Poland to fund their accounts using physical currency. There are plans to expand this list in the future.<\/p>\n\n\n\n

Kosloski clarified that the collaboration with MoneyGram will enable the centralized crypto exchange to facilitate the administration of “their crypto and cash” for users.<\/p>\n\n\n\n

Integration of a stellar network<\/h2>\n\n\n\n

Integrating the Stellar network will significantly influence the conversion process between digital and fiat currencies<\/a>. This blockchain is specifically designed to facilitate cost-effective and rapid transactions.<\/p>\n\n\n\n

Stellar's technology, which is adept at tokenizing conventional currencies, will enable CEX.io to provide its consumers with fiat-to-USDC and USDC-to-fiat services at participating MoneyGram locations.<\/p>\n\n\n\n

Arina Dudko, the director of Lithuania and chief of corporate payment solutions at CEX.io, stated that the Stellar network will expand the range of payment methods available to users.<\/p>\n\n\n\n

Euro-backed stablecoin on Stellar<\/h2>\n\n\n\n

On August 5, a partnership was declared to reintroduce EURT, a euro-pegged stablecoin<\/a> scheduled to launch on the Stellar network.<\/p>\n\n\n\n

The initiative would fully comply with the European Union's new crypto legislation, according to France-based fintech company Next Generation and Ireland-based electronic money institution Decta.<\/p>\n\n\n\n

On July 1, the EU Markets in Crypto-Assets Regulation (MiCA) framework, which concentrates on stablecoins and their issuers, took effect.<\/p>\n\n\n\n

The complete scope of MiCA will be implemented on December 30 and include crypto-asset service providers (CASPs), such as exchanges, wallet providers, and other related services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cex.io exchange has announced the incorporation of the Stellar blockchain and financial services company MoneyGram to offer users cash-in and cash-out options through USDC conversion. The partnership will increase the availability of crypto cash-in and cash-out services to CEX.io users, allowing for the conversion of Circle USD to physical currency and vice versa at participating […]<\/p>\n","protected":false},"author":12,"featured_media":93740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[21788,5011,2124],"class_list":["post-93736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cex-io","tag-moneygram","tag-stellar-blockchain"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/mg.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/93736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=93736"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/93736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/93740"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=93736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=93736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=93736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}