Stellar Aid Assist is an aid distribution program for regions and people in crisis. Its aim is to reduce costs and increase speed and efficiency in the way aid is delivered. MoneyGram will step in to facilitate fast payments through an extensive global network.
MoneyGram and Stellar united for a world that increasingly needs help
2022 has been a very trying year for people around the world. Wars like those in Yemen and Syria have remained intense, creating humanitarian disasters. While in Europe, the Russo-Ukrainian war first plunged thousands of civilians into utter distress. Then, all over the world, people who relied on the wheat produced in these countries risk starvation.
We have seen aid being organized, especially in Europe, with regard to assistance to Ukrainian refugees. But the coordination has clearly failed. Stellar, a cryptocurrency company wants to use Blockchain to better organize aid distribution in crisis areas. Its Stellar Aid Assist program should make it quick and easy to get cash to people who need it most. Its mature network will be put to use for this.
MoneyGram, a worldwide payments leader, will also put its network to work. In a press release on TwitterHalex Holmes, CEO of MoneyGram announced, “Now organizations can instantly scale up their money delivery efforts by leveraging our global license and infrastructure to make payments across our entire network.”
Stellar Aid Assist has served in Ukraine before
The organization Refugees has already used Stellar Aid Assit + MoneyGram to deliver aid to the Ukrainian people. Circle’s USDC was also involved in the success of this initiative. Any Ukrainian who meets the conditions can contact a partner humanitarian organization of the project to receive money through the Vibrant wallet. They can then withdraw cash at participating MoneyGram branches.
Conclusion
The partnership between Stellar and MoneyGram is a great way to send money where the financial system no longer works. Since the transfer is done by the Blockchain, it is very fast. Hopefully other crypto projects will join the bandwagon. Because crypto-currencies have benefited from the war in ukraine.
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