Foundation

Read

Stellar

Ripple rival Stellar has received a seat on MoneyGram’s board of directors after investing an undisclosed amount in the leading payment giant.&nbsp;&nbsp; 
Stellar, a rival of Ripple Labs, has invested in payments giant MoneyGram International (MGI). In a tweet yesterday, Denelle Dixon, the CEO of Stellar Development Foundation (SDF), stated that the company made an easy decision to invest in MoneyGram.&nbsp; 
“After years of getting to know the business and the teams, we are excited to take part in MGI’s next chapter. It’s been an awesome few years working together, and we are excited for what’s next!” &nbsp;she added.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/MoneyGram?ref_src=twsrc%5Etfw">@MoneyGram</a> <a href="https://t.co/PYAKHeXRxx">https://t.co/PYAKHeXRxx</a> 
 <a href="https://twitter.com/DenelleDixon/status/1691456351955025920?ref_src=twsrc%5Etfw">August 15, 2023</a> 
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Dixon attached a link to the tweet, providing further details about SDF’s investment in MoneyGram.&nbsp; 
<h2 id="span-data-preserver-spaces-true-sdf-s-investment-in-moneygram-span">SDF’s Investment in MoneyGram </h2>
According to the&nbsp; <a class="editor-rtfLink" href="https://stellar.org/blog/sdfs-investment-in-moneygram-international" target="_blank" rel="noopener">press release </a>, SDF invested in MoneyGram during the latest go-private transaction with Madison Dearborn Partners (MDP). Notably, SDF made the investment directly from its cash treasury rather than its Enterprise Fund.&nbsp; 
It bears mentioning that the SDF cash treasury is set aside to support the company’s activities, while the enterprise fund is used to invest in start-ups. Both MoneyGram and Stellar did not disclose the investment amount.&nbsp; 
<h2 id="span-data-preserver-spaces-true-sdf-joins-moneygram-s-board-of-directors-span">SDF Joins MoneyGram’s Board of Directors </h2>...
<a href="https://thecryptobasic.com/2023/08/16/ripple-rival-stellar-joins-moneygram-board-following-its-latest-investment/">Read more</a>

Ripple Rival Stellar Joins MoneyGram Board Following Its Latest Investment

Table of Contents

TheCryptoBasic

Other articles published on Aug 16, 2023

Uzbekistan’s top banks are set to revolutionize Crypto landscape with Mastercard-powered UzNEX cards

Consensys’ Layer 2 Blockchain Linea Completes Public Launch, Unlocking a Wave of DeFi Applications

XRP's 50 EMA Support Level Successfully Holds Up

"Spinning Destiny: Unleash the Magic of Luck with Bitpaid's Lucky Wheel Adventure!"

XOM Stock: -2.57% Intraday; Sellers Dominate, Reversal Possible?

Valkyrie Files For an Ether Futures ETF With SEC

Join our free newsletter for daily crypto updates!