OwlTing Expands Integration with MoneyGram to Provide Seamless Fiat-Stable Currency Conversions

OwlTing Group, a blockchain-based fintech company, has announced the integration of its unhosted digital wallet solution, OwlPay Wallet Pro, with MoneyGram International. This collaboration enhances OwlPay® Wallet Pro’s bankless on- and off-ramp capabilities, allowing seamless conversions between fiat currencies and the USDC stablecoin.

The integration leverages MoneyGram Access, a global service that enables digital wallets to connect with local cash systems. OwlPay Wallet Pro users can now cash-in fiat currencies to USDC in over 30 countries and cash-out USDC to fiat in more than 170 countries at nearly 375,000 MoneyGram locations worldwide.

A Step Forward for Financial Inclusion

Darren Wang, Founder and CEO of OwlTing Group, highlighted the potential impact of this partnership:

“By integrating with MoneyGram, OwlTing will make our vision possible and better support financial resilience in underbanked regions such as Latin America and Africa. We can enhance the utility of USDC stablecoin in helping customers hedge against volatile fiat currencies.”

The updated OwlPay Wallet Pro, now available on iOS and Android, moves all individual wallets to an unhosted model, giving users full access to their passphrases and enhancing security and accessibility.

Jon Lira, Head of Partnerships at MoneyGram, emphasized the alignment between the two companies:

“MoneyGram Access™ has already made a significant impact in regions like Ukraine and Colombia. Now, with OwlPay Wallet Pro onboard, we believe this collaboration can become part of people’s daily lives globally.”

Addressing the Challenges of Cross-Border Payments

The global remittance market, valued at $50 billion in 2023, is projected to grow at a compound annual growth rate of 10.5% through 2033. Despite the United Nations' 10.c target to reduce remittance costs to less than 3%, the World Bank estimates average transaction costs remain at 6.65%.

OwlTing’s integration with MoneyGram aims to address these challenges by providing faster, cost-effective, and secure payment solutions. For immigrant workers, the ability to transfer USDC to recipients abroad without traditional bank accounts and convert them into cash when needed could redefine accessibility in financial services.

Commitment to Compliance and Security

OwlTing also emphasized its dedication to compliance and user security. The company is licensed in 29 U.S. states, including the recent acquisition of a Money Transmitter License in Utah, and has obtained ISO/IEC 27001 certification to safeguard data and minimize cyber risks.

This announcement follows OwlTing’s earlier integration with the Stellar blockchain in August 2024, which expanded its reach to over 8 million accounts. Combined with MoneyGram Access, OwlPay Wallet Pro now offers a scalable and compliant payment platform across U.S. and global markets.

Industry Outlook

The partnership underscores the growing demand for innovative financial technologies to improve cross-border payments. As blockchain-based solutions like OwlPay® Wallet Pro continue to gain traction, companies are increasingly focused on serving underbanked regions and reducing the costs of remittances.

With MoneyGram’s global network and OwlTing’s blockchain expertise, the collaboration positions both companies to capitalize on the booming remittance market while addressing long-standing challenges in financial inclusion.