MoneyGram to Suspend Services in Russia, Will the Country turn to Crypto?

Key Takeaways:

  • On 11 March MoneyGram International Inc. issued a statement.
  • The statement said that MoneyGram has been keeping a close eye on the situation in Ukraine.
  • As the humanitarian crisis in Ukraine region worsens, MoneyGram notify their customers and agents about their decision to suspend services in Russia.

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On 11 March MoneyGram International Inc. issued a statement. The statement said that MoneyGram has been keeping a close eye on the situation in Ukraine. They are deeply concerned for all those affected in Ukraine region. As the humanitarian crisis in the region worsens, they notify their customers and agents of their decision to suspend services in Russia.

MoneyGram joins many others in expressing hope for a quick and peaceful resolution to protect civilians in all affected regions. MoneyGram will continue to monitor the situation in Ukraine. According to the statement, for MoneyGram the safety of their employees, agents, partners, and their families remains on top priority. MoneyGram has been in close contact with those who have been affected in order to provide assistance during this difficult time.

According to the statement, MoneyGram has also increased its support for collaboration with Save the Children, which is actively involved in relief efforts in the region. The MoneyGram Foundation approved an emergency grant to the Ukrainian Relief Fund last week.

The statement further said that MoneyGram services are still available in Ukraine. The services allow people to receive money in person or digitally directly to their bank account. Every day, more transactions are sent to Ukraine and neighbouring countries such as Poland as customers transfer money to their families, who are increasingly in need during this crisis.

MoneyGram International, Inc. is a global leader in the evolution of digital P2P payments. It provides innovative financial solutions to help communities around the world connect. MoneyGram has also been a trailblazer in cross-border payment innovation and blockchain-enabled settlement. 

The statement released by MoneyGram clearly says that they will suspend their services in Russia. The statement brings a lot of questions to the mind of the readers. One big question that comes to everyone’s mind is What will Russia do now will the Country turn to Crypto? As of now, there is no answer to this question. Russia has not yet announced anything regarding this.

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Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.