Odin Group has announced the integration of its non-custodial digital wallet, OwlPay Wallet Pro, with MoneyGram, a leading US-based international money transfer service. This strategic partnership enhances the wallet's bankless deposit/withdrawal capabilities, enabling seamless currency exchange between fiat money and USDC dollar stablecoins.
Key Features of the Integration
Global Coverage: Users can now:
- Deposit local fiat currencies at 50,000+ MoneyGram locations across 30+ countries, converting them to USDC.
- Withdraw USDC as cash at 375,000+ MoneyGram locations in 170+ countries.
- Non-Custodial Upgrade: All personal wallets in OwlPay Wallet Pro have transitioned to non-custodial models for enhanced security.
👉 Discover how USDC stablecoins revolutionize cross-border payments
Solving Pain Points in Cross-Border Payments
Odin Group addresses longstanding challenges in international remittances:
| Issue | Traditional System | OwlPay + MoneyGram Solution |
|---|---|---|
| Fees | Avg. 6.65% (World Bank) | <3% (aligned with UN Goal 10.c) |
| Speed | Days to process | Near-instant USDC conversions |
| Accessibility | Bank-dependent | Bankless via MoneyGram network |
Leadership Perspectives
Darren Wang, Founder & CEO of Odin Group:
"Our collaboration with MoneyGram empowers financially underserved regions like Latin America and Africa. USDC helps users hedge against volatile local currencies while improving financial resilience."
Jon Lira, MoneyGram’s Global Partnerships Director:
"Odin’s innovative approach aligns with our mission for borderless finance. Since its 2022 launch, MoneyGram Access has been pivotal in Ukraine, Colombia, and beyond. We expect OwlPay Wallet Pro to become indispensable globally."
Market Outlook & Growth Potential
- The $50B global remittance market (2023) is projected to grow at 10.5% CAGR (2024–2033).
Key advantages for migrant workers:
- Send USDC without bank accounts.
- Recipients can hold USDC as inflation-resistant savings or cash out via MoneyGram.
FAQs
Q: How does USDC improve remittance costs?
A: By bypassing intermediaries, USDC transactions reduce fees to <3% vs. the industry’s 6.65% average.
Q: Is OwlPay Wallet Pro available worldwide?
A: Yes, it’s live on iOS/Android in the US and other major markets.
Q: Why choose non-custodial wallets?
A: Users maintain full asset control without third-party risks—a core principle of decentralized finance (DeFi).