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.

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With the new partnership, MoneyGram aims to facilitate the purchase and sale of Bitcoins for cash for its US customers. However, the company has said that it would also expand its services to some other countries later this year.

Commenting on the new developments, Alex Holmes, Chairman and CEO of MoneyGram, said that partnership with Coinme would take their tap into a new customer segment. He also said that they are the first to pioneer a crypto-to-cash model and allow the sale and purchase of Bitcoin through cash.

Talking about the plan to expand in foreign markets, the company in a statement has confirmed that they will make sale and purchasE OF bitcoin for local fiat available at about 20,000 outlets globally.

Neil Bergquist, CEO of Coinme, commented that they would jointly “provide a fast and easy way for customers to purchase bitcoin with cash and withdraw bitcoin holdings in cash. It is specially designed for customers who may be interested in utilizing bitcoin for the first time.”

Earlier, MoneyGram had forged a partnership with Ripple but due to the legal hurdles and its problems with the US Securities and Exchange Commission (SEC), the plans could not come to fruition. Instead, the company is already facing a class-action lawsuit.

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