Stellar has announced that it is investing in MoneyGram International, also known as MGI in short, through its Development Foundation. Stellar Development Foundation, often referred to as SDF, will hail the investment opportunity just 2 years after they executed their commercial agreement.

The reason why their historical collaboration has taken center stage at the moment is because that is the same thing that enabled Stellar to gain access to the future plans of MoneyGram.

Needless to say, they were pretty impressed with what MoneyGram had the potential to do in terms of digital transformation and execution. That gave them the confidence to grab any opportunity which came their way.
Years later and the investment aligns with that historic judgment.

Stellar Development Foundation will now take a more active role in MoneyGram International. Possibly, an even more active role if another opportunity comes to light.

Stellar Development Foundation is now officially a minority investor, courtesy of the private transaction with MDF, short for Madison Dearborn Partners. The investment was rolled out of the Foundation’s own cash treasury.

This makes the investment one of its kind. Another option was to leverage the Enterprise Fund.

MoneyGram will use the funds to expand its digital business, explore the potential of blockchain technology, and find ways to grow the company.

The investment made to MoneyGram International has also granted the Foundation a spot on the Board of Directors. It also has leaders from the financial, technological, and payment industries.

Stellar has called this an exciting time for both companies, adding that there is definitely an opportunity for growth. Stellar and MoneyGram are now looking forward to the utilization of the investment and building more such partnerships in the future with the goal it puts Stellar Development Foundation a step closer to achieving equitable access to financial services.

GO STELLAR! 🙂🙂🙂