DALLAS and HOUSTON,
March 24, 2021 /PRNewswire/
-- MoneyGram International, Inc., a global leader in
cross-border P2P payments and money transfers, today announced the
launch of 'MoneyGram as a Service,' a new business line that
enables other companies to access its leading global money transfer
network through its powerful API-driven infrastructure and
best-in-class technology. With this launch, enterprise customers
can now leverage the Company's core capabilities as productized
service offerings to meet their various business needs and quickly
add services and scale. The new business line represents a
significant growth opportunity for MoneyGram as it enters a market
estimated to be $17 billion in 2024
with a CAGR of about 24% over the forecast period.
"Today, we enter the next phase of our digital transformation as
we open our modern, mobile, and API-driven platform to new
businesses and use cases by launching MoneyGram as a Service," said
Alex Holmes, MoneyGram Chairman and
CEO. "In response to strong market demand, we've developed this
processing model to provide third-party access to our vast network,
and we are thrilled to open our platform to G-Coin. This
partnership is part of our strategy to capture new revenue by
monetizing our capabilities, and we're excited about the innovative
potential of blockchain-driven digital assets as we continue
to lead the evolution of digital P2P payments."
The launch begins with the successful integration of a
partnership with Emergent Technology Ltd, the owner and operator of
the G-Coin digital token, to enable quick and easy cash funding and
payout of the purchase and sale of digital gold. The partnership
utilizes MoneyGram's new business line to provide consumers with
expanded access to G-Coin tokens at thousands of new point-of-sale
locations. G-Coin makes it possible for individuals to own
fractions of a Responsible GoldTM kilobar to save, send,
or spend gold like fiat currencies. G-Coin's digital innovation
combined with MoneyGram's unique global platform will make digital
assets more accessible to millions of consumers.
G-Coin Brings Gold into the Digital Age
A G-Coin token
is the title of ownership to conflict-free and responsibly sourced
gold that is stored in a secure vault. The one-to-one link between
G-Coin tokens and physical gold effectively offers a stable
instrument for currency hedging. G-Coin runs on a custom built,
third generation blockchain that also provides a trusted ecosystem
for a faster, Anti Money Laundering (AML) and Environmental,
Social, and Governance (ESG) compliant medium of exchange.
"We created the G-Coin token to give physical gold utility and
make it more accessible to the mass market, both as an alternative
store of value as well as a stable medium of exchange", said
Brent de Jong, Chairman and Founder
of G-Coin. "This partnership with MoneyGram, a leader in global
money transmission, confirms that digital assets are rapidly
integrating into mainstream financial services and gives us the
additional cash-in and cash-out infrastructure to reach global
markets".
With a shared goal of financial inclusion, the MoneyGram and
G-Coin integration provides customers who previously had few
opportunities to own and utilize gold, with a fast and easy way to
purchase or sell the digital gold token in cash. The MoneyGram
retail footprint and cash-in and cash-out capabilities provide the
infrastructure to make G-Coin accessible to millions. The service
is planned to be available in select MoneyGram locations across the
U.S. beginning in April, with plans to expand to international
markets later in 2021.
To learn more, visit gcoin.com.
About MoneyGram International, Inc.
MoneyGram is
leading the evolution of digital P2P payments. With a
purpose-driven strategy to mobilize the movement of money, a strong
culture of fintech innovation, and leading customer-centric
capabilities, MoneyGram has grown to serve nearly 150 million
people across the globe over the last five years.
The Company leverages its modern, mobile, and API-driven
platform and collaborates with the world's leading brands to serve
consumers through MoneyGram Online (MGO), its direct-to-consumer
digital business, its global retail network and its emerging
embedded finance business for enterprise customers, MoneyGram as a
Service.
For more information, please visit ir.moneygram.com and follow
@MoneyGram.
About Emergent Technology Ltd
Emergent Technology Ltd
owns and operates the G-Coin™ digital token and the Responsible
Gold™ ecosystem. The company develops and commercializes technology
solutions, including asset tokenization, blockchain-based
traceability, and artificial intelligence empowered identity
solutions, for global payments and commodity supply
chains. The QOS Protocol is a patent asset tokenization
platform on which trusted participants build applications and
services. The Responsible Gold Ecosystem – the first use case on
the QOS Platform – provides the means for gold with irrefutable
blockchain based provenance records that conforms to best practice
ESG controls, to be digitally minted into G-Coin tokens that can be
used to save, send, and spend Responsible Gold. The company
operates in more than 60 high-growth markets across Asia-Pacific, Latin
America, the Middle East
and Africa. To learn more, visit
www.emergenttechnology.com.
MoneyGram Media Contact
Stephen Reiff
media@moneygram.com
Emergent Technology Holdings LP Media Contact
Patricia Soriano
patty.soriano@emergenttech.com
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SOURCE MoneyGram