MoneyGram's new crypto service allows customers to buy, sell, and hold crypto via the app

By: Henry Felix

MoneyGram's new crypto service allows customers to buy, sell, and hold crypto via the app

November 2, 2022 2:11 PM

Customers in the United States can now buy, sell, and store digital currencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) through the Company's premier mobile app.


An organization that is concretizing bitcoin and blockchain applications in the real world has just released their newest crypto-related service.


Today, MoneyGram, Inc., a pioneer in the development of digital P2P payments, announced the availability of a new service that will allow customers to trade, store, and spend cryptocurrencies using the MoneyGram mobile app. Customers in 49 states and DC1 now have access to the MoneyGram app's premier trading and storage capabilities for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) thanks to this brand-new and unique functionality.


A new cryptocurrency-related service has been released by a business that is actively developing practical applications for blockchain technology. MoneyGram is at the forefront of cross-border payment innovation and blockchain-enabled settlement, offering on/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 cryptocurrency with a single tap of an app.


"MoneyGram sees the addition of cryptocurrency as a positive development. MoneyGram provides quick access to over 120 currencies throughout the world, including dollars, euros, yen, and so on, and we consider crypto and digital currencies as another input and output option, "the MoneyGram CEO and Chairman Alex Holmes said. "As a further step in MoneyGram's journey, we're happy to provide our customers with access to a trustworthy and simple platform for securely buying, selling, and holding chosen cryptocurrencies."


MoneyGram's objective is to improve global connectivity through innovative financial solutions. With today's news, the Company demonstrates its commitment to this approach and its goal of providing the best possible service to its tens of millions of customers. MoneyGram is dedicated to improving financial services for its customers all around the world by diversifying outside its core offerings and investing in new growth prospects.


Furthermore, Holmes stated "Our worldwide reach, industry-leading compliance solutions, and deep-seated culture of fintech innovation put us in a position to fulfill rising consumer demand for digital currencies and close the gap between blockchain and conventional financial services. For us, this next step represents an exciting new beginning."


Because to the Company's existing agreement with Coinme, a licensed cryptocurrency exchange and API-driven crypto-as-a-service provider, users of the MoneyGram app can now buy, sell, and keep cryptocurrency. Since 2021, MoneyGram and Coinme have worked together to open up hundreds of new locations around the United States where customers may buy and sell bitcoin using cash.


As MoneyGram looks to expand into new markets in 2023, as global legislation allow, it is likely that the number of cryptocurrencies available for purchase through the service will grow.