Why Stellar And MoneyGram Teamed Up With Techstars To Improve Cross-Border Payments

The Stellar Development Foundation (SDF) and MoneyGram, the payment solution company, have partnered with Techstars. The partners will cooperate to create a support program for developers around the world working on “technological innovation”. Related Reading | Stellar To Deploy Smart Contracts By End Of 2022? XLM Reacts To The Upside Specifically, the partners will focus on people trying to improve digital payments and blockchain technology. The objective is “streamline cross-border payments and support financial inclusion”, per a press release. Techstars is a company that, according to its website, provides access to capital, customers, talent, infrastructure, and mentorship. The company calls itself an “operational investor” created to support people on their entrepreneurial aspirations. Techstars has worked with ClassPass, DataRobot, DigitalOcean, and crypto-based companies, such as Chainalysis. Their partnership with Stellar and MoneyGram will target ways to remove friction from the process of transferring money in the Latin American region. The SDF explained: Each year for the next three years, the program will select a class of up to 12 fintech startups to participate in an immersive 13-week program where entrepreneurs will work with mentors from Techstars, the Stellar Development Foundation, and MoneyGram to solidify their value proposition and product-market-fit. Once the cohorts finish their program, they will h...