Should you buy Stellar after the MoneyGram partnership?

Stellar XLM/USD is essentially a peer-to-peer (P2P) decentralized network originally created in 2014 and launched in 2015 with the goal of connecting the financial system on a global scale and ensuring that there’s a protocol available for payment providers and financial institutions.

Stellar aims to link people, banks, and payments processors and to allow users to create, send and even trade different types of cryptocurrencies.

This is clearly seen with the partnership it conducted with MoneyGram.

The MoneyGram Partnership as a catalyst for growth

On May 25, 2022, we covered how the Brazilian exchange Mercado Bitcoin announced its partnership with the Stellar Development Foundation (SDF).

Now, in an interview with Bloomberg published on May 29, 2022, the MoneyGram Chief Executive Officer Alex Holmes said that MoneyGram International Inc. is preparing to launch a service in partnership with the Stellar blockchain.

This service is aimed at allowing users to essentially send stablecoins and then be easily able to convert them into FIAT currencies.

Holmes said that he has an optimistic view of the crypto industry, predicting that it is here to stay and that it is going to be here for a long time, even despite the recent sell-offs as well as the volatility.

Through this partnership with Stellar, they have the main goal of ensuring that users can also conduct USDC remittances. 

This way, customers would essentially be able to cash out those holdings through the usage of MoneyGram’s network. 

Should you buy Stellar (XLM)?

On May 31, 2022, Stellar (XLM) had a value of $0.148340.

In order for us to get a better perspective as to what kind of value point this is for the XLM cryptocurrency, we will be going over its all-time high point of value, as well as its performance throughout the previous month.

When we take a look at its performance throughout April, ​​Stellar (XLM) saw the highest point of value on April 4 at $0.237.

However, the lowest point of value occurred on April 30, when the token was worth $0.1765. Here, we can see a decrease in value of $0.0605 or 25%.

Despite this fact, XLM has been climbing back up in value, and at $0.148340, it marks a solid buying opportunity, as it can reach $0.35 in value by the end of June.