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On February 24, 2025, TruBit, the leading cryptocurrency payment platform in Latin America, announced a strategic partnership with the global financial technology giant MoneyGram International, Inc. (MoneyGram) to officially access its globally pioneering digital asset wallet deposit and withdrawal (On/Off-Ramp) service, MoneyGram AccessTM. The service, jointly developed by MoneyGram and the globally renowned blockchain payment technology non-profit organization Stellar Development Foundation, SDF, aims to provide global users with a more convenient and efficient digital asset-to-fiat currency exchange channel.
This time, TruBit, together with MoneyGram, will further expand the MoneyGram Access service created by MoneyGram and Stellar to core Latin American markets such as Mexico, Argentina, Brazil, and Colombia. These countries receive a total of up to 802.5 billion U.S. dollars in cross-border remittances annually, with Mexico alone reaching 647.5 billion U.S. dollars in 2024 (source: Bank of Mexico). In the Latin American market where cash still dominates, efficient and convenient cross-border payments are crucial for regional economic development. TruBit's participation is aimed at addressing this key pain point and promoting broader financial inclusion.
TruBit combines Stellar's efficient blockchain technology with MoneyGram's powerful global cash access network, providing users with a smoother digital asset exchange experience. TruBit users can deposit cash into a digital wallet at designated MoneyGram locations, converting fiat currency into USDC. At the same time, users can also exchange digital assets for local fiat currency at MoneyGram locations, such as OXXO in Mexico, Cobro Express in Argentina, Bancolombia in Colombia, and other retail stores and bank locations, easily converting USDC back into local fiat currency.
This diagram illustrates the partnership between TruBit and MoneyGram: users can exchange local currency for USDC in 35+ countries worldwide through MoneyGram, and convert USDC back to local currency in 150+ countries, easily facilitating global fund transfers.
Maggie Wu, Co-Founder and CEO of TruBit, said: "This partnership is a major breakthrough in bridging cash and digital assets. By combining innovative technology with a seamless payment experience, we are committed to providing more convenient and secure financial services to our users. We are thrilled to be joining forces with a world-leading fintech company like MoneyGram to drive financial inclusion in Latin America and create transformative solutions for the market." "
This collaboration highlights TruBit's commitment to promoting the digital economy in Latin America, further consolidating its position as a leading digital financial platform in the industry. In the future, TruBit will continue to provide secure, convenient, and user-friendly encrypted financial services, allowing individuals and businesses to enjoy the infinite possibilities of the digital economy regardless of their location.
About TruBit
TruBit was founded in 2020 and is the leading global cryptocurrency platform in Latin America, with operations covering two core areas: payments and trading.
· TruBit Business: Providing compliant cross-border payment solutions, seamlessly connecting fiat and cryptocurrencies, helping enterprises optimize fund management;
· TruBit Pro: Provides advanced trading tools for professional traders;
· TruBit Wallet: Supports convenient cryptocurrency exchange and provides Earn+ revenue functions;
· TruBit Mastercard: Allows users to conveniently spend digital assets anytime, anywhere.
TruBit, as a pioneer in compliant fiat on/off ramp channels, operates in core markets such as Mexico, Argentina, Brazil, Colombia, Chile, Peru, and is gradually expanding to North America, Asia, and Europe. Committed to innovative, secure, and compliant crypto financial services, it aims to connect global users with the digital economy.
About MoneyGram
MoneyGram International, Inc. is a leading global financial technology company that provides fast and secure cross-border payment and fund management services to millions of users and businesses worldwide. Its MoneyGram Access business has become the world's largest digital currency deposit and withdrawal platform, enabling the free exchange of fiat and digital assets through an extensive cash distribution network. MoneyGram has over 2,000 employees in 36 countries globally, serving over 200 countries and territories, with an annual transaction volume exceeding $200 billion.
About Stellar
The Stellar network is a decentralized, fast, scalable, and sustainable blockchain platform designed for financial products and payment services. Its protocol optimizes payments, ensures low transaction costs, and provides efficient transaction processing as adoption grows. Since the launch of the Stellar network, global financial institutions and innovators have issued assets and settled payments through the network, processing billions of transactions with millions of active accounts.
About the Stellar Development Foundation (SDF) (Stellar Development Foundation, SDF)
Stellar Development Foundation )SDF( is a non-profit organization dedicated to providing fair financial access through blockchain technology. SDF supports developers and businesses through funding, investment, and resources, providing necessary tools for the Stellar ecosystem, ensuring the healthy development of the Stellar network, and offering technical support, funding, and ecological empowerment to global innovators.
