Unleashes New Open-Source Disbursement Platform

2023-08-18 00:20:03

Stellar Development Foundation Unleashes New Open-Source Disbursement Platform

Developed by the Stellar Development Foundation (SDF) over the past year, the platform enables individuals and organizations to execute bulk disbursements using digital assets for various purposes, including gig worker payments and digital aid delivery.

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Revolutionizing Global Payments?

According to the announcement made on Wednesday, the Stellar Disbursement Platform allows users to send funds to thousands of recipients swiftly within seconds.

It offers numerous applications, including supplier payments, payroll management, and contractor payments, catering to diverse payment needs.

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Furthermore, the platform’s seamless integration with Stellar’s global network of on and off-ramps, covering over 180 countries, provides recipients with the convenience of converting digital currency to cash "easily."

Stellar Secures Minority Stake In MoneyGram

On Tuesday, the Stellar Development Foundation announced its recent participation in the go-private transaction with Madison Dearborn Partners (MDP), solidifying its position as a minority investor in MoneyGram, providing cross-border P2P (person-to-person) payments and money transfer services.

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As part of this investment, SDF has secured a seat on MoneyGram’s Board of Directors, granting the foundation an opportunity to contribute to MoneyGram’s future and digital strategy actively.

Per the announcement, joining a group of leaders from the payments, financial services, and technology sectors, SDF’s presence on the board will leverage its collective expertise to fortify and guide MoneyGram’s digital transformation.

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Furthermore, the investment positions SDF to play a vital role in various aspects of MoneyGram’s journey, including the expansion of its digital business, exploration of blockchain technology, and support for the company’s overarching mission of facilitating secure and efficient global money movement for individuals and businesses across multiple countries.

Despite recent protocol announcements and developments, the native token of the Stellar protocol, XLM, has consistently declined over the past two weeks. Currently, the coin is trading at $0.1262, reflecting a 2.4% decrease in value over the past 24 hours and a 13.8% decline within the fourteen-day timeframe.

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