MoneyGram to Enable US Customers to Trade and Store Bitcoin and Ether
November 3, 2022
Money transfer services giant MoneyGram will now allow customers to trade and hold some major cryptocurrencies using the company’s mobile app.
The move marks an expansion to MoneyGram’s native crypto support as it previously enabled users to buy and withdraw Bitcoin in the United States.
According to a press release on Tuesday (November 1, 2022). MoneyGram introduced a new feature that will allow customers to buy, sell, and store Bitcoin, Ether, and Litecoin. The company plans to add more crypto assets to its platform in 2023.
This latest development was possible through a partnership with the crypto exchange Coinme. The ability to trade and hold crypto is available to MoneyGram customers in almost all U.S. states and the District of Columbia (DC).
Today’s announcement also expands MoneyGram’s previous Bitcoin support for customers. In May 2021, the company enabled consumers to buy and withdraw BTC in several of its physical outlets across the States.
A statement from MoneyGram’s CEO and Chairman Alex Holmes, said:
“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.”
Holmes also stated that the company continues to meet customers’ demand for cryptocurrency while also connecting blockchain with traditional financial services.
The money transfer giant previously partnered with the likes of Ripple and Stellar.
MoneyGram ditched its collaboration with the former after the U.S. Securities and Exchange Commission filed a lawsuit against it.