Payments company MoneyGram is rolling out a new service that allows consumers to buy, sell and store crypto assets using the company’s mobile app.
In a statement, the money transfer giant says the MoneyGram app’s crypto exchange feature will support Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and 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 are pleased to provide our customers with access to a reliable, easy-to-use platform to securely buy, sell and store selected cryptocurrencies. »
The company is bringing this new service to its customers using the CoinMe cryptocurrency exchange. The two companies have been working 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 their brick-and-mortar locations in the United States.
In June, MoneyGram also launched a new service in major remittance markets, including the Philippines, the US, Canada and Kenya, to bridge fiat currencies with cryptocurrencies using the payment blockchain Stellar (XLM) and stablecoin USD Coin (USDC).