MoneyGram Spreads Network Abroad

MoneyGram International, Inc. (NASDAQ: MGI) watched its shares stay stationery Wednesday, as the leading global financial technology company that connects the world's communities, announced a strategic partnership with Astra Tech, a technology investment and development group based in the United Arab Emirates (UAE) and the owner of BOTIM, the largest and most popular Voice over Internet Protocol (VoIP) solution in the Middle East and North Africa (MENA) with over 90 million registered users.

Through this innovative partnership, BOTIM is the region's first communications platform to enable its users to seamlessly send money around the world in near real-time.

According to CEO Alex Holmes, "As we increasingly look to capture growth by opening our global network to new use cases, we are thrilled to offer our leading international money transfer capabilities on the most trusted consumer messaging platform across the Middle East.

"We continue to be excited about the demand for our services – not only do millions of consumers around the world rely on MoneyGram for their daily financial needs, but more and more of the world's top organizations are now seeking to embed our fintech capabilities into their service offerings."

Astra Tech is on a mission to create a platform that will offer everything from instant messaging to digital payments. Earlier this month, Astra Tech acquired BOTIM, making the company one of the largest communications technology platforms in the MENA region

MGI shares were down half a cent to $10.88