USDC Cements 4th Rank Amid MoneyGram-Stellar Sync

  • USDC is now the fourth-largest cryptocurrency by market capitalization.
  • MoneyGram has partnered with Stellar to enable users to send USDC anywhere.
  • MoneyGram CEO Alexander Holmes mentioned his desire to streamline crypto transfers in El Salvador.

US dollar-based stablecoin USD Coin (USDC) has nabbed the fourth position among all cryptocurrencies from Binance Coin (BNB). This milestone occurred after global money transfer service MoneyGram partnered with Stellar Foundation.

Specifically, the mentioned partnership will now allow MoneyGram to empower customers to send USDC and convert the stablecoin into fiat. Hence, this will enable full stablecoin access across all countries where MoneyGram is available.

The news rocked the crypto space, with people quoting MoneyGram CEO Alexander Holmes after he made favorable statements that mentioned El Salvador.

In detail, Holmes said: 

If a country like El Salvador is going to make Bitcoin seamless with US dollars in country, I think that consumers, through MoneyGram, should be able to transfer Bitcoin to El Salvador or transfer dollars and convert them to Bitcoin. If that’s where the world is going, let’s participate in that world, and let’s see how we can help fulfill that opportunity.

Amid the recent buzz, USDC has now become the fourth-largest cryptocurrency by market capitalization, with BNB trailing at its heels.

At the time of writing, USDC has a market cap of $53.811 billion, while BNB has $52.860 billion. Meanwhile, the combined market capitalization of the crypto space is at $1.331 trillion.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.