To push stablecoin usage into everyday life in Latin America, Stellar Development Foundation (SDF) and payment giant MoneyGram have deepened their partnership.
With the Stellar (XLM) network, Circle, and Crossmint at the epicenter, millions across Latin America will be in a position to receive funds in the form of the USD Coin (USDC) stablecoin using the MoneyGram app.
This will be advantageous, given that users will be at liberty to hold value without unnecessary volatility and convert funds to cash at various local MoneyGram locations.
First launched in Colombia, this service is quickly gaining traction, with El Salvador being the current beneficiary, as well as other nations spread across South and Central America.
Therefore, USDC seeks to be a game-changer for people living in Latin America, a region where remittances are at times a lifeline, as traditional banking can be limited.
 
Stellar’s Breakout and Growing Institutional Interest Signal a Bigger Shift
In the price action front, Stellar can breathe a sigh of relief after recently breaking out of a 9-month descending triangle.
This development came to light after XLM soared to $0.17, with momentum indicators in full support.
For instance, the Relative Strength Index (RSI) broke its downtrend, whereas the MACD histogram dusted itself after entering positive territory.
Meanwhile, institutional interest has been scaling heights after the CME Group announced plans to roll out Stellar futures contracts earlier this year, reflecting growing demand among large players.
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