Stellar invests in MoneyGram

Reminding itself with the activity in the SEC-Ripple case, Stellar announced that it has invested in MoneyGram. Although financial details have not yet been disclosed, the investment is claimed to be a large amount. Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, gave her general opinion on this move.

“Stellar has been given a seat on MoneyGram’s board of directors,” Denelle Dixon wrote in an August 15 post. In the SDF-MoneyGram partnership, it was stated that the success of investments, the execution of digital services and blockchain technology will be at the forefront in general.

Dixon emphasized that the investment will be aimed at supporting the foundation’s activities from the SDF’s wealth treasury. The official, who did not share clear information about the financial statement, expressed this formation as an “easy decision”. In addition, Dixon stated that he is determined to be a leader in the field of fintech and is dedicated to the studies.