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 Worldwide Inc. (Nasdaq: MGI) introduced the launch of a brand new cryptocurrency service Tuesday. The official Twitter account for Moneygram tweeted:
Moneygram pronounces the launch of a brand new service enabling customers to purchase, promote and maintain cryptocurrency through the Moneygram app. This characteristic provides prospects in practically all U.S. states the power to commerce and retailer BTC, ETH and LTC.
The corporate is anticipated to develop its collection of supported cryptocurrencies in 2023, the announcement provides. In accordance with the Moneygram web site, the brand new service is out there in all U.S. states (besides Hawaii, Idaho, and New York) and the District of Columbia.
“Moneygram allows prompt 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 client 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 worldwide chief within the evolution of digital P2P funds” and “a frontrunner in pioneering cross-border fee innovation and blockchain-enabled settlement.” The corporate says it has served over 150 million individuals within the final 5 years.
The power to purchase, promote and maintain crypto utilizing the Moneygram cash switch app is made attainable by way of the corporate’s present partnership with Coinme, a licensed U.S. crypto alternate platform.
The 2 firms introduced a partnership in Could 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 “obtainable 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 alternate platform.
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