The American cross-border P2P payments and money transfer company MoneyGram recently added an exciting new feature for users looking to buy cryptocurrency.
MoneyGram is offering a new service on its financial app, which allows users based in the United States to trade bitcoin, ether, and litecoin, with more tokens to be added to the platform in 2023.
The company will look to follow through with this initiative in other countries in the near future – but the different cryptocurrency regulations in different countries around the globe provide a barrier to the worldwide implementation of the cryptocurrency feature.
The initiative is being implemented by the cryptocurrency exchange “Coinme”.
In a press release, MoneyGram’s Chairman and CEO, Alex Holmes, shared his thoughts on the new and exciting cryptocurrency feature to debut in his company’s 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,” he said. “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 CEO also added that consumers’ interest in digital currencies is rapidly accelerating, and Moneygram is fortunate to be in a position to satisfy the growing demand for cryptocurrency assets in the day-to-day lives of the people, and “bridge the gap between blockchain and traditional financial services”.
MoneyGram’s Investment in Coinme Paying Off
Back in May of 2021, MoneyGram announced a minority investment and partnership with Coinme, with the goal to develop a bridge connecting bitcoin to local fiat currency. The collaboration boosted bitcoin availability even further by opening thousands of new bitcoin point-of-sale venues.
Now, this collaboration is close to achieving its goal, as Coinme’s assistance in the financial app will allow millions of American users to easily access cryptocurrencies.
