MoneyGram International on Thursday (June 2) announced a partnership with Saudi Arabia-based mobile wallet Mobily Pay that will bring MoneyGram’s international money transfer capabilities to Mobily Pay, giving users the ability to send money around the world in near real time.

One of the largest money-transfer services in the U.S. is attempting to broaden the adoption of digital currencies. MoneyGram International is preparing to launch a service in partnership with the Stellar blockchain that would allow users to send stablecoins and easily convert them to hard currency.

One of the largest money-transfer services in the US, MoneyGram aims to launch a new service that would enable users to transfer money overseas via stablecoins. The plan is in collaboration with the Stellar (XLM) blockchain, a decentralized protocol specializing in cross-border transfers, and it would allow users to change their stablecoins to actual currency at MoneyGram agent locations.

One of the largest money-transfer services in the US is attempting to broaden the adoption of digital currencies. MoneyGram International Inc. is preparing to launch a service in partnership with the Stellar blockchain that would allow users to send stablecoins and easily convert them to hard currency.

As MoneyGram expands its reach around the world, sales and marketing expert Liz Alicea-Velez works behind the scenes to reach regional consumers on their terms.

Most of us take it for granted that we can open a bank or a credit card. But the truth is, according to the World Bank, close to one-third of adults — 1.7 billion — are still unbanked, and have no access to a transaction account. About half of unbanked people include women in poor households in rural areas or out of the workforce.

Russia’s invasion of Ukraine has spurred a rush of remittances from citizens from both countries living abroad to help their families withstand war disruptions. Transfers to Ukraine through MoneyGram, the US-based remittances company, spiked by 120% on Feb. 24th, the day Russia attacked Ukraine, while remittances to Russia rose by more than 50% the week of the invasion, said CEO Alex Holmes.

Money transfers to Ukraine have jumped since the Russian invasion. Payments to Ukranians from friends and family abroad were 121% higher on Feb. 24, the day of the invasion, than the 30-day average at MoneyGram International Inc., a major money-transfer service. Transfers increased close to 70% between Feb. 21 and Feb. 28, the company said. Remittances, or funds sent to home countries from abroad, typically increase during times of crisis. The fighting in Ukraine threatens to upend economies and livelihoods in the country.

Earlier this month, remittance major MoneyGram announced that it had entered into an agreement to be acquired by private equity firm Madison Dearborn Partners. The deal is the biggest acquisition ever in the remittance industry, and is an unexpected move in that it comes at a time when large numbers of other players in the money transfers space are looking to go public. However, for CEO Alex Holmes, it’s an opportunity to accelerate its future development without the constraints that come with making quarterly reports to the markets.

It is actually very complicated to move money around the world." MoneyGram International CEO Alex Holmes talks remittances, transfer fees, and crypto.