Odaily Planet Daily News Stellar Development Foundation (SDF) announced a strategic investment in MoneyGram International (MGI).
The investment is made from the SDF's operating reserve cash pool, rather than from a corporate fund that invests in start-ups and early-stage companies. The investment will enable MGI to expand its digital business, explore areas such as blockchain technology, and explore many other ways that it can help consumers and businesses move and manage money around the world. It marks MGI's renewed commitment to becoming a digital leader in the field of financial technology.
According to previous reports, MoneyGram established a new board of directors, and the CEO of the Stellar Development Foundation is one of the directors.