Moneygram has launched a brand new crypto service to permit prospects to purchase, promote, and retailer cryptocurrencies utilizing its cell 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 publicizes the launch of a brand new service enabling customers to purchase, promote and maintain cryptocurrency through the Moneygram app. This function provides prospects in practically all U.S. states the flexibility to commerce and retailer BTC, ETH and LTC.
The corporate is predicted to broaden its number of supported cryptocurrencies in 2023, the announcement provides. In accordance with the Moneygram web site, the brand new service is offered in all U.S. states (besides Hawaii, Idaho, and New York) and the District of Columbia.
“Moneygram permits immediate 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 satisfy that demand and bridge the hole between blockchain and conventional monetary providers.
Moneygram describes itself as “a worldwide chief in the evolution of digital P2P funds” and “a pacesetter in pioneering cross-border cost innovation and blockchain-enabled settlement.” The corporate says it has served over 150 million folks in the final 5 years.
The flexibility to purchase, promote and maintain crypto utilizing the Moneygram cash switch app is made doable by means of the corporate’s present partnership with Coinme, a licensed U.S. crypto trade 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 areas.” In January this 12 months, Moneygram introduced that it “has accomplished a strategic minority funding in Coinme,” giving the cash switch agency an approximate 4% possession stake in the cryptocurrency trade platform.
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