Stellar buys a minority stake in MoneyGram
The Stellar Development Foundation acquires a minority stake in major remittances platform MoneyGram. The Stellar Development Foundation (SDF) — the organization behind the Lumens (XLM) blockchain — announced on Aug. 15 that it is acquiring a minority stake in major remittances platform MoneyGram. In a recent tweet, SDF CEO and Executive Director Denelle Dixon described the decision behind the investment as “an easy one” and explained that the funds come from the firm’s treasury. The decision to invest in @MoneyGram was an easy one. After years of getting to know the business and the teams, we are excited to take part in MGI’s next chapter. It’s been an awesome few years working together, and we are excited for what’s next!https://t.co/PYAKHeXRxx — Denelle Dixon (@DenelleDixon) August 15, 2023 In other words, Stellar’s Enterprise Fund, used to invest in startups and early-stage companies, was not drawn from. Dixon avoided providing any financial...