Bridge
Wanchain Plans New Bridge Between Polygon, Arbitrum
Despite Crypto Market Rout, Total Value Locked in Cross-Chain Bridges Jumps 9% in 30 Days
30 days ago on October 28, the total value locked (TVL) in cross-chain bridges to Ethereum was around $22.48 billion and in the face of the recent market dump, the TVL still increased by 9.56%. At the time of writing, there are 135,148 unique depositors and Axie Infinity’s Ronin Bridge holds the largest TVL. Cross-Chain […]Wormhole Expands Its Bridge To Polygon and Solana
Total Value Locked in Cross-Chain Defi Bridges Exceeds $22 Billion, Jumping 48% in 30 Days
On October 29, the total value locked (TVL) in decentralized finance (defi) protocols is around $243 billion with Curve capturing 7.76% of the dominance. Meanwhile, as ethereum has the largest dominance of TVL in defi, a number of alternative blockchains are seeing significant increases every week. Moreover, the TVL in cross-chain bridge technology has reached […]The Top Bridges for Interoperability With Ethereum
Fantom Hits New All-Time High as Rally Continues
Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL
23 days ago on September 16, cross-chain bridges held around $7.79 billion total value locked (TVL) and since then the TVL has increased 89% since then to $14.75 billion. Currently, the top bridges include network connections like Polygon Bridges with $4.5 billion, Fantom Anyswap Bridge with $4.1 billion, and the Avalanche Bridge with $3.2 billion. […]ZED RUN Gets In-Game Ethereum to Polygon Bridge
MoneyGram launches USDC settlement using the Stellar blockchain
The partnership will enable MoneyGram customers to fund and withdraw from their accounts using the USDC stablecoin at physical branches.
Financial services company, MoneyGram International, has partnered with the Stellar Development Foundation to enable consumers to send money using Circle’s popular stablecoin, USD Coin (USDC) and convert directly to and from fiat.
Per a 6 Oct. announcement, MoneyGram has integrated support allowing crypto wallets connected to the Stellar Network to access its global retail platform. Working alongside Circle, MoneyGram will also enable “near-instant backend settlement”, account funding, and local fiat withdrawals using the USDC stable token.
United Texas Bank will act as the settlement bank to complete the process within the regulatory framework.
"As crypto and digital currencies rise in prominence, we're especially optimistic about the potential of stablecoins as a method to streamline cross-border payments.” said Alex Holmes, MoneyGram Chairman and CEO.
The partnership is expected to launch at the end of 2021 in select jurisdictions, with an expanded international rollout planned in 2022. Denelle Dixon, CEO and executive director of the Stellar Development Foundation, stated:
"A new segment of cash users will be able to convert their cash into and out of USDC, giving them access to fast and affordable digital asset services that may have previously been out of reach.”
MoneyGram's integration with Stellar comes just months after the firm moved to allow customers to withdraw crypto assets for cash via its point-of-sale outlets in the U.S. The service was rolled out in partnership with Bitcoin ATM and crypto exchange operator, Coinme Inc.
Related: Biden admin weighing bank-like regulation for stablecoin issuers
MoneyGram is no stranger to blockchain, having partnered with distributed ledger technology Ripple in June 2019 to collaborate on cross-border payments and foreign exchange settlements with digital assets.
However, the deal quickly went south, due to the uncertainty concerning U.S. Securities and Exchange Commission lawsuit targeting Ripple. MoneyGram suspended support for Ripple's platform during the first quarter of 2021.
Stellar was launched by Ripple co-founder Jed McCaleb following his tumultuous departure from the project in 2014.
Circle published, on 4 Oct., filings revealing it is cooperating with a subpoena from the SEC that it received in July.