The Stellar Development Foundation (SDF) and MoneyGram International Inc. (MG) have fashioned a partnership with Techstars, the worldwide community that helps entrepreneurs succeed with investments of capital, and can launch a mentorship program aimed toward Latin America’s monetary system, the businesses announced Friday (March 11).
MG, the digital P2P funds supplier, and SDF, the nonprofit group that helps Stellar, an open-source community that connects the world’s monetary infrastructure, have launched a startup accelerator program designed to give attention to constructing options for a extra inclusive and accessible monetary system in Latin America, the businesses’ stated.
The three-year initiative will choose as much as a dozen FinTech startups to take part in a 13-week immersion program. Beneath this system, entrepreneurs will work with mentors from the three corporations. On the conclusion of every class, individuals current their progress and imaginative and prescient to a bunch of FinTech buyers and stakeholders.
Functions for the primary class of startups is scheduled to open on July 25. The deadline for functions is Oct. 12.
“Blockchain and digital belongings are altering the cross-border funds course of, enabling folks to virtually immediately and cost-effectively ship cash internationally,” Denelle Dixon, Stellar’s CEO stated in an announcement. “We consider that we are able to enhance entry to the monetary system for all individuals, and we’re proud to work with MoneyGram and Techstars to empower the subsequent technology of innovators to construct a extra inclusive and accessible cross-border funds system that takes full benefit of Twenty first-century expertise.”
In 2020, Techstars and Anthemis, the London and New York-based world platform that invests in startups, supplied $27.7 million in a funding spherical for Axle, the freight and logistics software program firm.
Learn additionally: Axle Debuts New Freight Carrier Payments Program
On the time, Axle stated it could use the cash to develop its merchandise and develop to new markets.
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NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICING IN THE DIGITAL ENVIRONMENT
About: Forty-two percent of U.S. consumers are more likely to open accounts with FIs that make it easy to auto-share their banking details during sign-up. The PYMNTS study Account Opening And Loan Servicing In The Digital Environment, surveyed 2,300 consumers to examine how FIs can leverage open banking to engage customers and create a better account opening experience.
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