MoneyGram to launch non-custodial digital wallet in the first quarter of 2024

MoneyGram is set to launch a non-custodial digital wallet meant to avail new ways to receive and send cross-border payments. In a press release on 26thSeptember (Tuesday), the global fintech company indicated that the wallet will be launched in Q1’24. It is set to allow its users to efficiently move from fiat to digital currency and vice versa.

MoneyGram’s non-custodial digital wallet

MoneyGram’s non-custodial digital wallet is a step closer in the firm realizing its vision of connecting the world via financial solutions. In the press release, the company’s CEO, Alex Holmes stated, “We’re thrilled to have the vision, strategic plans, innovative technology and expansive retail network in place to continue offering customers access to the digital economy, but now further backed by our global reputation for speed, efficiency and trust”.

Upon its launch, the digital wallet’s users will be in a position to cash out their digital assets at a MoneyGram location. They’ll also be able to send digital assets to other users within the wallet. The firm intends to apply its global compliance screening on all the wallet users.

As highlighted in the press release, the non-custodial digital wallet is built upon the firm’s already existing global fiat on and off ramp service. Since its launch in 2022, this service has created a bridge between fiat and digital currencies. With that, customers have been able to cash out and in in over 180 and 30 countries respectively. As it strives to launch the digital wallet, it also plans on expanding its capabilities and introducing new features.