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).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.