CEX.io Announces New Partnerships for Enhanced Crypto-to-Cash Services

CEX.io, a centralized cryptocurrency exchange, has unveiled a new integration with financial services firm MoneyGram and the Stellar blockchain.

This partnership will enhance CEX.io’s capabilities by allowing users to convert Circle’s USD Coin (USDC) to physical cash and vice versa at MoneyGram locations.

Joel Kosloski, CEX.io’s chief information security officer and chief information officer, mentioned to Cointelegraph that the company is working to extend this service to additional countries.

Initially, users in the European Economic Area (EEA), Africa, Latin America (LATAM), and other regions will benefit from cashing out and funding CEX.io accounts with USDC. Countries including Austria, Hungary, Ireland, Lithuania, and Poland are already included, with plans for further expansion.

The integration with Stellar will facilitate efficient conversion between digital and fiat currencies. Stellar’s technology, which supports the tokenization of traditional currencies, will be instrumental in providing seamless fiat-to-USDC and USDC-to-fiat services at MoneyGram locations.

Additionally, CEX.io recently announced a partnership to launch a euro-pegged stablecoin, EURT, on the Stellar network. This initiative, in line with the EU’s Markets in Crypto-Assets Regulation (MiCA), aims to comply with the new European crypto legislation effective from July 1, with full implementation by December 30.