Stellar Development Foundation And MoneyGram in A New Partnership With Techstars

Stellar Development Foundation And MoneyGram in A New Partnership With Techstars.

Stellar Development Foundation and MoneyGram have partnered with Techstars, a startup-supporting platform for financial inclusion and training of founders. This was revealed in a press release sponsored by MoneyGram on PRNewswire. According to the information on the post, the program is for early stage projects that need to be supported through the accelerator program. Its focus will be for Latin America.

SDF, @MoneyGram, and @Techstars got together today @SXSW to share details on the newly-launched startup accelerator program for blockchain-based payment innovation in LatAm #StellarAtSXSW pic.twitter.com/pYIYWHIzax

— Stellar (@StellarOrg) March 12, 2022

Techstars is a global financial innovation business that supports startups through the provision of access to capital. It also supports one-on-one mentoring and customized programming for businesses.

The release stated that the partnership will entail the recruitment of entrepreneurs with the view to promote blockchain innovation through the founders’ collaboration and drive cross-border payments. The partnership will also drive financial inclusion in Latin America.

Application for First Class Training

The first stage of the partnership will focus on fintech that is involved in payment processing and will attract founders who will be mentored through the Techstars program. This comprises a 13-week immersive training, which will be done in conjunction with MoneyGram and Stellar Development Foundation. 

The application will open for the first set of trainee startups on July 25. The deadline for submissions is October 12, 2022. In the course of the training, the participants will have the opportunity to share their business vision with investors curated from several industries. This event is slated for Demo Day, which is a module in the training for the prospective founders.

Denelle Dixon, the CEO and the executive director of Stellar Development Foundation commenting on the partnership with Techstars said:

“We believe that we can improve access to the financial system for all participants, and we’re proud to work with MoneyGram and Techstars to empower the next generation of innovators to build a more inclusive and accessible cross-border payments system that takes full advantage of 21st-century technology”

Blockchain is increasingly changing the face of international remittances and payments. Stellar and MoneyGram are positioning themselves to become major players in the emerging trend.