MoneyGram to enable US customers to trade and store Bitcoin and Ether

MoneyGram users in the US will now be able to trade and hold major cryptocurrencies like Bitcoin, Ether, and Litecoin.

Money transfer giant MoneyGram will now allow customers to trade and hold several major cryptocurrencies using the company’s mobile app.

The move marks an expansion to MoneyGram’s native cryptocurrency support as it previously allowed users to buy and withdraw Bitcoin in the United States.

  • According to a press release on Tuesday (November 1, 2022). MoneyGram has introduced a new feature that allows 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 is made possible through a partnership with cryptocurrency exchange Coinme. The ability to trade and hold cryptocurrencies is available to MoneyGram customers in most US states and the District of Columbia (DC).
  • Today’s announcement also extends MoneyGram’s previous Bitcoin support to customers. In May 2021, the company allowed consumers to buy and withdraw BTC at some of its physical stores across the US.
  • A statement from MoneyGram CEO and President, Alex Holmes, said:
    As a next step in the growth of MoneyGram, we are excited to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold digital assets. selected cryptocurrency”.
  • Holmes also stated that the company continues to meet customer demand for cryptocurrencies while connecting blockchain with traditional financial services.
  • The remittance giant has previously partnered with Ripple and Stellar.
  • MoneyGram abandoned its partnership with the former company after the US Securities and Exchange Commission filed a lawsuit against it.

Read more: Union Bank of the Philippines launches Bitcoin and Ethereum trading

Comments (No)

Leave a Reply