SDF’s journey with MoneyGram International (MGI) officially began when we established a commercial partnership in 2021. But that was not the beginning. No, before 2021 we had been in close collaboration, having recognized how well-suited, and aligned our organizations were. In 2019, we started building the tools that ultimately became MoneyGram Access. And, just two years after the commercial agreement began, our work together has made the Stellar network the leader of cash-to-crypto on and off-ramps, providing easy, accessible ways for people to get value both into and out of the digital economy. It was through this partnership that we gained insights into the company's operations, collaborated closely with its teams, and became familiar with their plans for the future. We were impressed. MoneyGram's vision for its digital transformation and execution capabilities gave us confidence that if an opportunity to take a more active role in MGI’s future ever arose, we would take it.
Today, I can share that opportunity came to pass. During the recent go-private transaction with Madison Dearborn Partners (MDP), SDF became a minority investor in MGI. The investment was made out of SDF's own cash treasury, the assets set aside to support the operations of the SDF, rather than the Enterprise Fund, a fund to invest in startups and earlier-stage companies. It is the first investment of its kind made from SDF's treasury. Our investment also includes a seat on its Board of Directors of which I am proud to represent SDF among a diverse group of leaders in payments, financial services, and technology on the board who are excited to lend their expertise to strengthen and guide MGI’s digital strategy.
This investment positions SDF to contribute to MGI’s journey, particularly in areas such as expanding its digital business, exploring blockchain technology, and contributing to the many other ways this financial technology company enables consumers and businesses to move and manage money in nearly every country around the world. Most importantly, it signifies a rededication from MGI, one of the world’s leading global financial technology, to becoming a digital-forward leader in fintech.
This is an exciting time for SDF and MGI, and I believe the opportunities will only grow. Continuing to build strong partnerships with organizations across the payments space puts SDF one step closer to achieving our mission of creating equitable access to financial services.