A possible update to MoneyGram's appearance
In an exclusive conversation, Alex Holmes, CEO of MoneyGram, discussed the company's plans for future development following the pending acquisition by Madison Dearborn Partners.
Holmes sees the acquisition as an opportunity to accelerate MoneyGram's growth and development. He plans to significantly increase the company's marketing efforts and expand into financial services, with a particular focus on digital assets and blockchain technology.
MoneyGram has been making progress towards its digital transformation, with 35% of transactions being digital in late Q4 2021. The company is aiming to reach 50% digital by 2024, currently standing at 36% in December 2021.
Holmes, who led MoneyGram's digital transformation during his tenure as CEO, has been a strong advocate for digital adoption, modernizing compliance infrastructure, and pioneering cross-border blockchain integration initiatives. His continued focus on integrating digital assets and blockchain in financial services is evident in his support for Bitcoin Depot's mission to expand crypto access and strengthen industry compliance standards as a board member.
Cash will remain significant for many years, but going private will enable MoneyGram to review certain cash-led partnerships more freely. The acquisition will take MoneyGram private, allowing the company to make decisions on its partnerships without the constraints of quarterly reports to the markets.
Holmes also views Coinbase's recent entry into cash-payout remittances as a means to help customers buy crypto affordably, rather than a genuine remittances play.
MoneyGram's future moves will be closely monitored, with the company planning to grow its cross-border platform and do more in digital assets, crypto, and blockchain. The conversation took place on LinkedIn.
This article provides insights into MoneyGram's next steps, offering a glimpse into the company's plans for digital transformation and expansion into financial services.
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