Payments company MoneyGram is rolling out a new service that allows consumers to buy, sell and hold crypto-assets using the company’s mobile app.
In a statement, the money transfer giant says that the MoneyGram app’s crypto exchange feature will support Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and that it will is now available to customers in nearly every US state and the District of Columbia.
According to Alex Holmes, president and CEO of MoneyGram,
We see crypto and digital currencies as another entry and exit option. As the next step in the evolution of MoneyGram, we’re excited to provide our customers with access to a reliable, easy-to-use platform to securely buy, sell, and hold select cryptocurrencies. »
The company is bringing this new service to its customers with the help of the CoinMe cryptocurrency exchange. The two companies have worked together since 2021, when MoneyGram partnered with CoinMe to allow customers to buy bitcoin using fiat currency and convert the digital coin to cash at its physical locations in the United States.
In June, MoneyGram also launched a new service in major remittance markets, including the Philippines, the United States, Canada and Kenya, to bridge fiat currency with cryptocurrencies using the payment blockchain Stellar (XLM) and stablecoin USD Coin (USDC).