Foundation

Stellar

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
The <a href="https://u.today/ripple-rival-stellar-xlm-benefits-from-xrps-recent-run-with-17-weekly-gains" rel="noopener noreferrer nofollow">Stellar</a> Development Foundation, a nonprofit that supports the growth and development of the Stellar network, has invested in payment giant MoneyGram International. 
<a href="https://twitter.com/DenelleDixon/status/1691456351955025920" rel="noopener noreferrer nofollow">Denelle Dixon</a>, CEO and executive director of Stellar Development Foundation, took to Twitter to announce the latest development, stating: "The decision to invest in MoneyGram was an easy one. After years of getting to know the business and the teams, we are excited to take part in MoneyGram's next chapter." 
The Stellar Foundation CEO provided additional information about the investment move in a <a href="https://stellar.org/blog/sdfs-investment-in-moneygram-international" rel="noopener noreferrer nofollow">blog post</a>.&nbsp; 
Dixon stated that the Stellar Development Foundation (SDF) became a minority investor in MoneyGram when the opportunity arose during the recent go-private transaction with Madison Dearborn Partners (MDP). 
The investment was made from the Stellar Development Foundation's cash treasury, which is assets set aside to support the SDF's activities, rather than the Enterprise Fund, which is a fund that invests in start-ups and early-stage firms. The actual investment <a href="https://u.today/stellars-xlm-impressive-10-rally-heres-probable-cause" rel="noopener noreferrer nofollow">amount</a> remains undisclosed. 
Dixon highlights that this is the first investment of its kind made from SDF's treasury. The investment also grants Stellar a seat on MoneyGram's board of directors, a role she is filling. 
Aside from that, the investment would place Stellar in a position to contribute to MoneyGram's journey, namely in areas such as expanding its digital business and exploring blockchain technology. 
In a throwback, Stellar's journey with MoneyGram International officially began with a commercial partnership dating back to 2021. 
<a href="https://u.today/stellars-xlm-impressive-10-rally-heres-probable-cause" rel="noopener noreferrer nofollow">XLM</a>, the native crypto asset of the Stellar network, was indifferent to the news and was down 3.50% in the last 24 hours to $0.129.

Stellar (XLM) Foundation Announces MoneyGram Investment

U_Today

Other articles published on Aug 16, 2023

Pro-Bitcoin Politician Surges Ahead in Argentine Presidential Primaries

Shiba Inu Price Analysis: SHIB Price Primed For 27% Spike

Crypto millionaire found murdered in Bulgaria, suspect arrested

Attempts to Defy Gravity: RocketSwap Launches Recovery Plan After $860k+ Crypto Exploit

GLEN Stock Slides Down; Earnings Do Not Meet Analyst’s Estimates

He Could Lose It All! Tech Expert Down to Last Chance at Unlocking $220,000,000 Bitcoin Fortune

Join our free newsletter for daily crypto updates!