Consumers in the U.S. can now buy, sell and store BTC, ETH and LTC using the MoneyGram mobile app.
The international P2P payment platform, MoneyGram, launched the buying crypto service on its lending mobile app on the 1st. Dwellers in the United States can now use the platform to buy, sell or hold their crypto assets.
Some of the cryptocurrencies that are available on the platform include Bitcoin, Ethereum and Litecoin. However, MoneyGram plans to provide a wide range of crypto tokens from early 2022.
Alex Holmes, MoneyGram Chairman and CEO explained that “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.”
MoneyGram on cryptocurrencies
The latest crypto service from MoneyGram comes after its partnership with Coinme, a licensed crypto exchange in the US.
The company continues to foresee the delivery of innovative financial solutions to tens of millions of individuals globally. MoneyGram noted its commitment to investing in different growth opportunities. The company also promised to expand its core products to enhance consumer financial services globally.
“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,” Holmes noted.
MoneyGram and her crypto allies
Before MoneyGram partnered with Coinme, the companies had other partners such as Ripple and Stellar.
However, after the SEC-initiated process, MoneyGram backed off and announced the termination of their partnership.
A few months after MoneyGram parted ways with Ripple, Stella partnered with the company. The purpose of this partnership was to enhance MoneyGram’s retail service of converting crypto into Fiat currency and vice versa
MoneyGram also has a partnership with Circle on cross-border deals using the USD Coin (USDC). In 2023, MoneyGram is expected to sponsor the Haas F1 team.
other payment platforms eyeing crypto
Just like other payment platforms such as Visa and Mastercard, MoneyGram also joins the space to offer crypto-related services.
Visa announced its partnership with FTX in early October. The two partners offer the crypto debit card in various countries in Europe, Latin America and Asia.
MasterCard on the other hand, a rival to Visa, also announced the launching of Crypto Secure. A platform that oversees the reliability of virtual asset service providers and determines which transactions fit for approval.
With all these giant payment platforms embracing crypto, we are possibly shifting toward the new revolution. Where decentralization lies at the core. Other advantages include self-governing and managing, cost-effective, private and secure modes of transactions
