MoneyGram is expanding its push into digital payments through a new partnership with Fireblocks, which will now manage stablecoin settlements for the global remittance leader. The companies announced the move Thursday, calling it a step toward faster and more flexible cross-border transactions.
Fireblocks co-founder and CEO Michael Shaulov said the shift to a multi-chain setup will help modernize the core layer of global payments. According to him, programmable, blockchain-based rails can strengthen both speed and reliability for businesses that move money around the world.
MoneyGram serves more than 50 million customers each year across over 200 regions, giving it one of the largest footprints in the remittance industry. Its long-time competitor Western Union holds a similar place in the market. While both companies are widely used, their services have often been more costly than newer digital alternatives. Even so, they remain essential for customers who face barriers to moving funds across borders.
The Fireblocks partnership could help MoneyGram lower operational costs and improve settlement efficiency. It also highlights a broader trend. Many traditional financial institutions are gradually exploring stablecoins as they look for faster settlement and improved liquidity.
MoneyGram has been building its stance as a supporter of blockchain-based payment systems. The company said its early work on digital currency on- and off-ramps, along with compliance tools, has given it a first-mover advantage. Chairman and CEO Anthony Soohoo stated that the goal is to support instant movement of money across any channel, whether in traditional currency or stablecoins.
This strategy is not new for the firm. In 2023, MoneyGram announced plans for a non-custodial digital wallet that would let customers switch between crypto and fiat currency.
Under the new partnership, Fireblocks will supply a programmable settlement layer and stablecoin infrastructure that can route transactions across several blockchains in real time. Both companies say future features could include programmable money and stronger liquidity pathways. Programmable money could allow transactions that only execute once preset conditions are met, similar to an automated escrow.
Fireblocks recently introduced an enterprise-grade stablecoin network in September, aimed at helping crypto and financial firms move USD-pegged tokens more efficiently.
