Transformative User Experience
The MoneyGram app offers a straightforward yet impactful user experience. Customers can quickly receive funds into a secure USD balance, allowing them to hold their money in a stable currency and cash out or spend as they wish.
Initial Launch in Colombia
Starting in Colombia, with plans to expand, the app aims to provide more value to recipients while enhancing the overall MoneyGram experience for senders and receivers globally.
Addressing Real Needs
For many individuals worldwide, sending money across borders is crucial for supporting family, covering basic necessities, and investing in financial stability. Unfortunately, receiving such support often involves picking up cash, carrying large amounts of local currency, and dealing with depreciation over time.
Change for the Better
This innovation transforms that experience. In Colombia, MoneyGram will enable users to instantly receive and manage funds within the app, offering a secure and stable environment for their money.
Why Colombia?
Colombia is an ideal launch location due to its status as a major remittance hub where families receive significantly more than they send abroad, and its local currency has depreciated against the U.S. dollar over the past decade.
A Vision for the Future
Anthony Soohoo, MoneyGram’s CEO, emphasizes the direction of finance towards universal access. This launch marks a significant step towards enabling everyone globally to access dollar-pegged stablecoins, transforming how people handle their finances.
What Lies Ahead
The app will soon be available for download in Colombia on both the Apple App Store and Google Play Store. Users can expect features that further merge physical and digital experiences, such as depositing cash into their USD balance through MoneyGram locations and utilizing linked debit cards for transactions without facing exchange rates.
