MoneyGram International Inc. has introduced a new cryptocurrency service feature that will enable customers to buy, sell and hold Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) through the MoneyGram app.
Enabling users to buy, sell, and hold cryptocurrencies through the MoneyGram app is possible courtesy of the company’s move to collaborate with Coinme for crypto access expansion by creating new outlets in the U.S. where consumers can buy and sell Bitcoin over the counter with cash. Coinme is a licensed cryptocurrency exchange and API-driven provider of crypto-as-a-service.
MoneyGram is a global leader in the evolution of digital peer-to-peer (P2P) payments. With this new and innovative feature, MoneyGram has bolstered its mission to revitalize real-world crypto and blockchain applications. It is worth noting that quality is the unique crypto-based service launched by the company.
The new service also provides MoneyGram access to a broader customer base across all U.S. States and the District of Columbia, enabling them to transact in crypto. An excerpt from the announcement notes:
“Consumers in the U.S. can now trade and store Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) by using the Company’s leading mobile app.”
MoneyGram Pioneers Crypto Innovation
MoneyGram has been setting the groundwork for cross-border payment and blockchain-based settlement innovation. Through collaborations with Coinme in 2021, Stellar, and G-Coin, MoneyGram has pioneered on/off ramp services for digital wallets, cross-border settlement via Circle’s USD Coin (USDC), and is now offering users the ability to buy and store cryptocurrency through its app.
According to MoneyGram Chairman and CEO Alex Holmes, crypto is an enabler to everything the company does, including its functions with the U.S. Dollar, Japanese Yen, and the Euro. He said:
“MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option.”
Commenting on the new cryptocurrency service feature, the chairperson lauded MoneyGram’s commitment to revolutionizing the company by providing customers access to a trusted and easy-to-use platform to buy, sell, and hold select cryptocurrencies safely. Quoting Holmes:
“As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services thanks to our global network, leading compliance solutions, and a strong culture of fintech innovation. We are excited for this next chapter in our journey.”
MoneyGram rides on the strategy to connect the world’s communities through innovative financial solutions to increase its footprint in the crypto space. The announcement of a new crypto-service feature adds to the company’s successful record of accomplishment in serving its expansive customer base. The financial services company is also focused on investing in new growth opportunities, including reaching beyond its characteristic core products to better its offerings in financial services across the globe.
Looking forward, and with plans to explore more expansion strategies in other markets in 2023, MoneyGram plans to expand its future selection of crypto coins for users to buy, sell, or hold. These strategies are keeping pace with global regulations as they unfold.
