USDC used for international aid payments in Ukraine

A lot of people have been displaced by the Ukraine war. Naturally, the best support is cash which can be used for anything and at same time, cash is flexible enough whenever the circumstances change. 

Right now, cash is being delivered to the displaced people using Stellar’s non-custodial wallet, Vibrant that has built-in USDC -> Cash and Cash -> USDC function. This has been made possible using Stellar’s MoneyGram partnership. This allows users to cash out at any MoneyGram location while paying absolutely no fees. 

Chairman and CEO of MoneyGram also spoke with JK Fruit at Wired event about MoneyGram’s partnership with Stellar Development Foundation and Refugees and how together, they were powering humanitarian aid disbursements to displaced persons affected by Ukraine war. 

Ukraine has myriad MoneyGram locations. In fact, they are spread throughout 175 countries. USDC is available on many blockchains, including Stellar and this allows users to send their funds instantly at much lower cost than other blockchains. 

For instance, if you use Ethereum blockchain, total fees are between $20-$30, but with Stellar, the cost incurred is less than $0.00001, not to mention, the transaction is much faster too. 

Other than Vibrant wallet, you can find USDC’s MoneyGram integration in Decaf wallet, which is another popular wallet for Stellar cryptocurrency.