Cryptocurrency remains far from traditional payments, but it continues to get closer to the United States and in the world. Other evidence emerged early Friday with a news than the money transfer platform Moneygram International Inc. launched Moneygram Ramps, an application programming interface aimed at mitigating transfers based on cryptography.
Simultaneously, a crypto application called Bitget Wallet announced that merchants will be able to accept Stablecoin transactions via a new integration by the company with Paydify, a payment door Specialized in cryptocurrency.
Stable are digital currency whose value is linked to a national fiatal currency, such as the US dollar. The New MoneyGram Service is based on the USDC part of Circle Internet Financial and the stellar blockchain, and does not require that users have a bank account to collect or deposit funds in MoneyGram stores.
Based in Dallas MoneygramWho invoices his latest API as “the most powerful to date”, says that it will allow digital portfolios, fintechs and exchanges to “instantly” reach the world cash network of moneygram with a few lines of code. The key, according to Moneygram, is the possibility of expanding the service, because it requires minimal code writing. This functionality leads the money transfer service to boast that it becomes “connective tissue” for digital access to inherited monetary networks.
“We have removed the complexity of integration, opening the door to a transparent connection with the largest species on / out of the world for digital wallets,” said Anthony Soohoo, Managing Director of Moneygram, in a press release. The new service also brings a photo of modernity to Moneygram, founded in 1940 thanks to a merger of two money movement companies. Madison Dearborn Partners acquired the company in 2023.
The details of the new service include cash deposits in more than 30 countries and withdrawals in more than 170s, without needing for users to tackle that Moneygram calls “regulatory complexities”. According to the network, it promises simplicity. “For years, developers have been looking for an easy way to fill physical and digital currency,” said Luke Tuttle, director of Moneygram technology in a press release. “Moneygram Ramps is this missing link.”
Moneygram promises smooth integrations, reducing the deployment time, he said, a few minutes from what could have taken days. Integration can be carried out on a moneygram website and bank integrations are not necessary, the network indicates.
For developers on a global scale, says Soohoo: “We are open to business. It is now your opportunity to connect with our global network. ”
The integration of payment of payment of Bitget Wallet based in El Salvador, on the other hand, will smooth the acceptance of the merchants, according to the company, leading to a common and common use of the digital currency. The portfolio requires more than 60 million users and a “user protection fund” amounting to more than $ 300 million.
The alliance with Paydify is based on what the company says is its ability to facilitate transactions for traders of “any portfolio without the need for personalized integration”. Bitget cites an onchain report indicating “the limited acceptance of merchants” is “a key obstacle to the use of the crypto for payments”.
