Stablecoin infrastructure provider Crossmint announced a partnership with remittance leader MoneyGram.

Stablecoin infrastructure provider Crossmint announced a partnership with the remittance leader MoneyGram. Crossmint offers a comprehensive suite of blockchain infrastructure covering Wallet, capital flow, stablecoin orchestration, and payment management. Its service model differs from traditional Web3 tools, not emphasizing the complex operations of "Decentralization" but instead packaging the underlying technology of Blockchain into services accessible via APIs, allowing non-blockchain companies to easily adopt it. Companies using Crossmint do not need to hire professional blockchain engineers or manage Nodes or contract deployments. By integrating a few APIs, they can complete processes such as opening user Wallets, sending and receiving USDC, and querying transaction records, making Blockchain an invisible engine for corporate Financial Services rather than a visible barrier. Crossmint and MoneyGram will first implement this in Colombia, with plans to expand to more regions in the future. Recently, Crossmint received a strategic investment from Circle Ventures, the issuer of USDC, and will continue to develop stablecoin infrastructure for Financial Institutions.

Crossmint collaborates with MoneyGram

MoneyGram serves as a validation of Crossmint's technological capabilities. Cross-border remittances have long been hampered by high fees, delays in cash delivery, and exchange rate risks, particularly for recipients from countries with inadequate financial infrastructure, where these limitations are especially pronounced. Crossmint assists MoneyGram in launching a brand new service process, allowing senders to initiate remittances through familiar MoneyGram channels, while recipients can directly receive funds in USDC via the built-in Crossmint Wallet in the MoneyGram App. This amount does not need to be immediately converted to local currency; users can choose to save, spend, or even potentially gain access to integrated financial services and rewards in the future. During the integration process, the MoneyGram team does not need to reconstruct existing systems or deal with the cumbersome details of on-chain deployment; all technical details are pre-packaged by Crossmint.

Josh Bivins, Product Director of MoneyGram Crossmint, stated that Crossmint accelerates the development of MoneyGram's stablecoin strategy. Crossmint's enterprise-grade platform enables MoneyGram to act quickly, reducing the involvement of multiple vendors and bringing products to market faster. In addition, they provide practical operational guidance, simplifying every stage of product launch.

The operation principle of Crossmint Wallet

Crossmint's wallet is not a traditional Web3 wallet; users do not need to remember mnemonic phrases or manage private keys, but can simply register an email account to open a personal wallet. This type of "white-label non-custodial wallet" technology balances user experience with control over blockchain assets, and lowers the threshold for financial institutions to adopt crypto wallets.

The application interface retains the appearance and logic of traditional fintech platforms, allowing users to feel like they are operating a familiar banking app rather than jumping into the technology-intensive Web3 world. All the operations behind the scenes, such as fund transfers, on-chain transaction processing, and blockchain fees, are handled in the background by Crossmint's API.

The services provided by Crossmint are not limited to the wallet itself, but also include a complete stablecoin fund orchestration mechanism. In the case of MoneyGram, MoneyGram can mint USDC using the API supported by Crossmint and allocate funds to different wallets on the Stellar Blockchain. The entire process is secure, traceable, and can be completed quickly across borders, far surpassing traditional bank transfer processes. Furthermore, the Crossmint wallet system itself supports real-time fund scheduling across more than 50 blockchains, allowing users or enterprises to quickly transfer assets between different markets in the future without the need to set up cross-chain infrastructure themselves.

Blockchain toolbox designed for Financial Technology

Crossmint is more like a "Blockchain as a Service" platform tailored for traditional financial technology companies compared to most Web3 development tools. The API design emphasizes developer-friendliness and includes built-in support for regulatory compliance, such as hybrid custody design, KYC verification modules, and transaction monitoring capabilities, assisting enterprises in expanding cross-border payment and financial services while complying with regulations. This design approach not only enables fintech companies to launch products within weeks but also transforms stablecoins from mere technical experiments or tools for crypto enthusiasts into practical global payment solutions.

Crossmint receives investment support from Circle Ventures

Crossmint recently received a strategic investment from Circle Ventures; the funds come from the venture capital arm of Circle, the issuer of USDC, indicating that Crossmint has gained recognition from mainstream stablecoin issuers. This funding is not only a resource support but also symbolizes Crossmint's increasingly solid position as a key infrastructure layer for stablecoin applications. In addition to partnering with MoneyGram, Crossmint is also collaborating with several fintech startups, cross-border payment platforms, and AI service providers to expand the application scenarios for stablecoins. Its vision is to create a digital financial underlying platform that supports global transactions, instant payments, and asset storage and management.

This article announces that the stablecoin infrastructure provider Crossmint has partnered with the remittance leader MoneyGram, first appearing in Chain News ABMedia.