Moneygram has released a new cryptocurrency service that allows its customers to buy, sell and store cryptocurrencies using its mobile money transfer app.
Initially the service will support three cryptocurrencies.
Moneygram’s official Twitter account wrote:
“Moneygram announces the launch of a new service that enables consumers to buy, sell and hold cryptocurrencies through the Moneygram app. BTC, ETH and LTC. The company expects to expand the selection of supported cryptocurrencies in 2023.”
The new service is available in all US states (except Hawaii, Idaho and New York) and the District of Columbia:
“Moneygram enables instant access to more than 120 currencies around the world and we see cryptocurrencies and digital currencies as another entry and exit option,” said the company’s president and CEO, Alex Holmes, and continued: “As consumer interest in digital currencies accelerates, we are responding to this demand and bridging the gap between blockchain and traditional financial services.”
A leader in the evolution of digital payments
Moneygram describes itself as a “global leader in the evolution of P2P digital payments” and “a leader in pioneering blockchain-enabled cross-border payment and settlement innovation”.
The company said in its statement that it has served over 150 million people in the last five years.
Collaboration with Coinme
The ability to buy, sell and hold cryptocurrency using Moneygram’s money transfer app is achieved through the company’s partnership with Coinme, a licensed US cryptocurrency exchange platform.
The two companies announced the partnership in May. Coinme says the service is “available at 12,000 Moneygram locations”.
