Leading Global Payments Network MoneyGram to Offer Cryptocurrency Services
Global payments company MoneyGram has announced that US users can now use its platform to buy, sell, and hold some major cryptocurrencies.
In a November one press release, the payments giant said that it will offer crypto purchase services via its app to customers in nearly all U.S. states and the District of Columbia.
The list of supported cryptocurrencies is currently limited to Bitcoin, Ethereum, and Litecoin. However, the company said it plans to extend its list of supported crypto assets over the coming year, pending global regulation.
"Cryptocurrencies are additive to everything we're doing at MoneyGram. From dollars to euros to yen and so on, MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option," Alex Holmes, MoneyGram Chairman and CEO, said.
The crypto purchase service is enabled by crypto exchange Coinme, which already has a partnership with the payments company. Notably, MoneyGram made a strategic minority investment earlier this year that earned it a 4% ownership stake.
Aside from Coinme, MoneyGram has also invested in some other crypto-related companies, including Stellar and G-Coin. The company also collaborated with Circle for cross-border settlement through its USD Coin (USDC).
As reported, MoneyGram said in May last year that it would allow customers to buy and sell BTC for cash at 12,000 U.S. retail locations through its partnership with Coinme. In the latest announcement, Moneygram hinted that the two companies have additional initiatives planned to boost the value of their partnership.
"As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge
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