TL;DR
- Seamless USDC Conversions: CEX.io users can now convert USD Coin (USDC) to physical cash and vice versa at MoneyGram locations worldwide, enhancing accessibility and convenience.
- Stellar’s Efficient Blockchain: Stellar’s technology ensures quick and cost-effective transactions, making fiat-to-USDC and USDC-to-fiat conversions more versatile and manageable.
- Global Expansion Plans: The partnership aims to expand services to more countries, simplifying the conversion process and improving the overall user experience for managing digital and physical currencies.
CEX.io, a leading centralized crypto exchange, has partnered strategically with global financial services company MoneyGram and the Stellar blockchain network. This collaboration aims to revolutionize how users convert between digital and physical currencies, particularly focusing on the popular stablecoin, USD Coin (USDC).
🆕 CEX•IO enables cash-in and cash-out transactions in USDC at participating @MoneyGram locations!
➕ We’re thrilled to add this reputable service integration to the existing plethora of methods available on our platform.
🔄 Enjoy the convenience of converting your local… pic.twitter.com/xKsyq2rUG3
— CEX.IO (@cex_io) September 18, 2024
Expanding Global Access to USDC Conversions
The partnership will enable CEX.io users to seamlessly convert USDC to physical cash and vice versa at participating MoneyGram locations worldwide.
This service is set to enhance the accessibility and convenience of managing both crypto and cash, especially for users in the European Economic Area (EEA), Africa, Latin America (LATAM), and other regions.
Currently, users in Austria, Hungary, Ireland, Lithuania, and Poland can already take advantage of this service, with plans to expand to more countries over time.
Stellar’s Role in the Conversion Process
Stellar’s blockchain technology, known for its quick and cost-effective transactions, will play a crucial role in converting between digital and fiat currencies.
By leveraging Stellar’s capabilities, CEX.io can offer its users efficient fiat-to-USDC and USDC-to-fiat services at MoneyGram locations. This integration is expected to significantly increase the versatility of payment methods available to users, making it easier to manage their finances.
CEX.io Partnerships: A Game-Changer for Crypto Users
Joel Kosloski, Chief Information Security Officer, and Chief Information Officer at CEX.io, emphasized the importance of this partnership in simplifying the management of crypto and cash.
“We are actively working to bring this service to even more countries, making it easier for users to convert their digital dollars into physical cash almost instantly,” Kosloski stated.
This collaboration is poised to be a game-changer for crypto users, offering a new level of convenience and flexibility. Instead of dealing with the hassle of international money transfers or long waiting periods, users can now access cash or fund their accounts quickly and efficiently.
Future Prospects
As the partnership continues to evolve, CEX.io, MoneyGram, and Stellar are committed to expanding their services to more locations globally. This initiative not only simplifies the conversion process but also enhances the overall user experience, making it easier for people to navigate the world of digital and physical currencies.
