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November 2, 2022

MoneyGram enables crypto transactions via mobile app

Digital peer-to-peer (P2P) payments provider MoneyGram International has introduced a new service that will allow consumers to buy, sell and hold cryptocurrency through its mobile app.

The service is currently available in almost all the states in the US and the District of Columbia.

Using the MoneyGram app, consumers will be able to trade and stock Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).

The new service is being enabled by an alliance between MoneyGram and Coinme, which is a crypto exchange and provider of API-driven crypto-as-a-service.

Since last year, both the entities have been developing thousands of new locations in the US to help consumers to purchase and sell bitcoin using cash.

MoneyGram also has collaborations with Stellar and G-Coin for digital wallets services. It offers cross-border transactions vis Circle’s USD Coin (USDC).

MoneyGram chairman and CEO Alex Holmes said: “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.

“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 aims to expand its services to new markets next year if global regulations give their permissions.

Last month, MoneyGram announced a partnership with UAE-based financial super-app Jingle Pay to help consumers with cross-border transactions worldwide.

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