MoneyGram, a payment company, has released an updated Bitcoin and cryptocurrency service to its mobile app. It allows U.S. clients to purchase, sell and hold digital assets through its platform.
Coinme, an exchange for crypto and a provider of crypto service providers, launched the service. MoneyGram was partnered with Coinme in 2021. The first ever in-store cryptocurrency trading platform was launched by the partners. The product enabled users to use Bitcoin and other crypto currencies at thousands of points-of-sale across the United States.
Both companies are working to expand their collaboration and onboard more crypto users. They were able to develop the crypto-to–fiat model that was used for the recently launched Bitcoin trading service via the MoneyGram App.
MoneyGram Accepts Cryptocurrencies and Bitcoin
To improve its crypto abilities, the payment company is collaborating with Coinme and Stellar as well as G-Coin and other partners. Its mobile app integrates with crypto, which is one of the many features that enable blockchain-enabled payments.
Users can trade and hold Bitcoin, Ethereum and Litecoin with the service. Alex Holmes, MoneyGram Chairman, and CEO said the following about their newest feature and the company’s vision on Bitcoin and cryptocurrencies:
Cryptocurrencies are additive to everything we’re doing at MoneyGram. MoneyGram provides instant access for over 120 currencies from around the world, with everything you need. As a next step in the evolution of MoneyGram, we’re thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies.
Even with the bear market, crypto remains popular
The company claims to be trying to bridge traditional finances with crypto finances by providing users with “innovative solutions.” MoneyGram views crypto as a long-term tool to provide its users with a better payment experience.
This is why they are still interested in digital assets like Bitcoin, even though the market has lost over 80%. Holmes also said:
With our international network, top compliance solutions, strong fintech innovation culture and global reach, digital currencies are gaining popularity. We look forward to the next chapter of this journey.
MoneyGram plans to expand its crypto trading platform in 2023, depending upon the U.S. regulatory framework. Bitcoin (BTC), trades at $20,000. Sideways movements are possible on shorter timeframes.