OwlTing Group, a blockchain fintech innovator, has strengthened its digital wallet capabilities by integrating with Moneygram International.
The collaboration enables users of OwlPay Wallet Pro to access seamless on and off-ramp services for converting local fiat currencies to the USDC stablecoin and vice versa.
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This partnership expands financial accessibility, allowing cash-in services in over 30 countries at nearly 50,000 MoneyGram locations and cash-out options in more than 170 countries via a network of 375,000 locations. The integration leverages MoneyGram Access, a pioneering service in global digital asset transactions.
In a significant upgrade, OwlPay Wallet Pro has transitioned all individual wallets to an unhosted model, empowering users with complete control over their passphrases for enhanced security. The updated wallet is available for download on iOS and Android.
The global remittance market, valued at $50bn in 2023, is projected to grow at a 10.5% CAGR by 2033, underscoring the rising demand for efficient payment solutions. OwlPay aims to meet this demand by offering a bankless system where recipients can store USDC digitally to combat inflation and convert it to cash as needed.
OwlTing’s compliance-driven approach includes licensure in 29 US states and ISO/IEC 27001 certification, ensuring secure and lawful operations. Combined with its recent integration with the Stellar blockchain, OwlPay Wallet Pro is poised to deliver scalable, borderless payment solutions to diverse markets.
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By GlobalDataDarren Wang, founder and CEO at OwlTing Group stated: “We’re seeing a surge of evolving needs from businesses that utilise international payments and from immigrants that send money home to help support their loved ones. By integrating with MoneyGram, OwlTing will make our vision possible and better support the financial resilience in underbanked regions such as Latin America and Africa. We can enhance the utility of USDC stablecoin in helping our customers hedge volatile fiat currencies in those regions.”
Jon Lira, head of partnerships at MoneyGram International added: “OwlTing’s approach to digital payments aligns perfectly with our mission to enable seamless and accessible financial services across borders. It’s been thrilling to see MoneyGram Access expand globally since its launch in June 2022 and enable impactful use cases across Ukraine, Colombia and more. Now, we believe OwlPay Wallet Pro can grow exponentially through the MoneyGram network and become part of people’s daily lives.”
