Moneygram Enables Customers to Buy and Sell Cryptocurrency through Its Money Transfer App

Moneygram Launches New Service Allowing Customers to Buy, Sell, Hold Cryptocurrencies via Mobile App

Moneygram has launched a brand new crypto service to permit prospects to purchase, promote, and retailer cryptocurrencies utilizing its cellular cash switch app. Initially, three cryptocurrencies are supported, together with bitcoin and ethereum.

Moneygram’s New Crypto Service

Moneygram International Inc. (Nasdaq: MGI) introduced the launch of a brand new cryptocurrency service Tuesday. The official Twitter account for Moneygram tweeted:

Moneygram publicizes the launch of a brand new service enabling customers to purchase, promote and maintain cryptocurrency through the Moneygram app. This function offers prospects in practically all U.S. states the power to commerce and retailer BTC, ETH and LTC.

The firm is predicted to develop its number of supported cryptocurrencies in 2023, the announcement provides. According to the Moneygram web site, the brand new service is accessible in all U.S. states (besides Hawaii, Idaho, and New York) and the District of Columbia.

“Moneygram allows instantaneous entry to over 120 currencies across the globe, and we see crypto and digital currencies as one other enter and output choice,” stated the corporate’s chairman and CEO, Alex Holmes. He continued:

As shopper curiosity in digital currencies continues to speed up, we’re uniquely positioned to fulfill that demand and bridge the hole between blockchain and conventional monetary providers.

Moneygram describes itself as “a world chief within the evolution of digital P2P funds” and “a pacesetter in pioneering cross-border fee innovation and blockchain-enabled settlement.” The firm says it has served over 150 million individuals within the final 5 years.

The skill to purchase, promote and maintain crypto utilizing the Moneygram cash switch app is made attainable by way of the corporate’s current partnership with Coinme, a licensed U.S. crypto change platform.

The two corporations introduced a partnership in May final 12 months “to allow the money funding and payout of digital foreign money purchases and gross sales.” Coinme’s web site states that the service is “out there at 12,000 Moneygram locations.” In January this 12 months, Moneygram introduced that it “has accomplished a strategic minority investment in Coinme,” giving the cash switch agency an approximate 4% possession stake within the cryptocurrency change platform.

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