[Digital Today reporter Chi-gyu Hwang (황치규)] MoneyGram is working with payments-focused blockchain Tempo to support stablecoin payments and verification of remittance transactions, Cointelegraph reported on Tuesday.
Stripe plans to use Tempo infrastructure to settle MoneyGram transactions, the report said. Cointelegraph said the move reflects efforts to shift finance and payment flows to stablecoin-based rails.
Tempo is a layer-1 blockchain developed by Stripe and Paradigm, with a focus on stablecoin remittances and cross-border payments. Visa is also participating as an early validator of Tempo.
MoneyGram will serve as an "anchor remittance validator" on the Tempo network. Cointelegraph said this means it is taking part in running the network, going beyond simply using a blockchain network. MoneyGram has recently partnered with crypto exchange Kraken to let users convert digital assets into cash for collection.
Chi-gyu Hwang
delight@d-today.co.kr