The worldwide pioneer in the development of digital P2P payments, MoneyGram International, Inc., has announced the introduction of a new service that will allow customers to purchase, trade, and store cryptocurrencies using the MoneyGram mobile app. The company’s flagship mobile app now supports the buying, selling, and storing of Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) for users in almost all 50 states and the District of Columbia.
It is the most recent crypto-related service released by a corporation actively using blockchain and cryptocurrencies in practical ways. MoneyGram is at the forefront of cross-border payment innovation and blockchain-enabled settlement, offering on- and off-ramp services for digital wallets via partnerships with Coinme, Stellar, and G-Coin; cross-border settlement via Circle’s USD Coin (USDC); and the ability to buy and store crypto with its app.
Cryptocurrencies are additive to everything we’re doing at MoneyGram. From dollars to euros to yen and so on, MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option. As a next step in the evolution of MoneyGram, we’re thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies,the MoneyGram CEO and Chairman Alex Holmes remarked.
MoneyGram’s goal is to provide cutting-edge money transfer services that strengthen social links throughout the globe. It is clear from today’s news that the company is committed to following through on this plan so that it may continue to provide the best possible service to its tens of millions of customers. MoneyGram is dedicated to enhancing consumer financial services throughout the globe by investing in new growth prospects and developing beyond its core businesses.
Because of the company’s existing agreement with Coinme, a regulated cryptocurrency exchange and API-driven crypto-as-a-service provider, users of the MoneyGram app may now buy, trade, and keep cryptocurrency. Since 2021, MoneyGram and Coinme have worked together to open hundreds of additional locations around the United States where customers may buy and sell bitcoin with cash.
As MoneyGram looks to expand into new areas in 2023, as global legislation allows, the number of cryptocurrencies available for purchase via the service will likely grow.