The China Mail - TruBit Partners with MoneyGram to Launch Their Global On/Off-Ramp Service in LATAM

This partnership extends the reach of the MoneyGram Access and Stellar's services across Latin America, where TruBit operates in key markets including Mexico, Argentina, Brazil, and Colombia - regions that collectively receive over $82.06 billion in annual remittances. With Mexico alone recording $64.75 billion in remittances in 2024 (Bank of Mexico), the partnership highlights the critical role of cross-border payments in regional economies where cash remains a significant barrier to financial inclusion.

By combining Stellar's efficient blockchain technology with MoneyGram's extensive cash-in and cash-out network, TruBit offers a seamless solution to these challenges. The integration, activated by MoneyGram, enables users to deposit cash into digital wallets by easily converting fiat to USDC at participating MoneyGram locations. Likewise, users can withdraw digital assets at MoneyGram locations, such as OXXO in Mexico, Cobro Express in Argentina, Bancolombia in Colombia, among other retail stores and banks. Leveraging USDC, a leading stablecoin, ensures reliable and flexible transactions, giving TruBit users greater financial control while seamlessly bridging the gap between physical and digital economies.

This image illustrates how TruBit and MoneyGram work together: users can cash in local currency to USDC via MoneyGram in 35+ countries and cash out by converting USDC back to local currency in 150+ countries worldwide.

Maggie Wu, CEO and Co-Founder of TruBit, commented: "This partnership is a significant breakthrough in bridging cash and digital assets, like USDC, combining innovation and accessibility to better serve our users. We are excited to collaborate with a global leader like MoneyGram to drive financial inclusion and create transformative solutions for the Latin American market."

This partnership highlights TruBit's mission to make the digital economy more accessible across Latin America. By providing a secure and user-friendly bridge between cash and cryptocurrency, TruBit empowers individuals and businesses to engage in the digital financial system, regardless of their technical expertise.

About TruBit

TruBit, established in LATAM in 2020, is a comprehensive global crypto platform built on two core pillars: payments and trading. At its forefront is TruBit Business, delivering compliant cross-border payment solutions that seamlessly integrate fiat and crypto for businesses. For trading, TruBit Pro provides advanced tools for experienced traders, while the TruBit Wallet supports easy conversion and Earn+ features. The Mastercard TruBit card enables convenient crypto spending.

As a pioneer in compliant fiat on-and-off ramp services, TruBit operates in key LATAM markets like Mexico, Argentina, Brazil, Colombia, Chile, and Peru, with a growing footprint in the U.S., Hong Kong, and Europe. Its commitment to regulatory compliance, security, and innovation empowers businesses and users worldwide, bridging the gap between fiat and crypto through seamless trading, remittance, and payment services.

About MoneyGram

MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. The Company is a pioneer in the use of blockchain technology at scale and also enables consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world's most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world. The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for three consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than $200 billion USD annually. Relentlessly digital-first and customer-centric, the Company's digital transactions now account for over 50% of its money transfer business.

About Stellar

The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders smart contracts functionality and a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions of operations with millions of accounts since the network was first launched.

Stellar Development Foundation

The Stellar Development Foundation (SDF) is a non-profit organization focused on working with and supporting changemakers to create equitable access to the global financial system through blockchain technology. SDF provides grants, investments, funding, and other awards to builders and organizations. SDF also develops resources and tooling on the Stellar network to help unlock real world utility. As a nonprofit foundation, SDF puts the health of the Stellar network and the Stellar ecosystem and its mission above all else.

For more information, visit https://stellar.org/foundation.

TruBit Media Contact

For any inquiries, contact [email protected] or [email protected].

MoneyGram Media Contact

Sydney Schoolfield: [email protected]

SOURCE: TruBit

View the original press release on ACCESS Newswire

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