DALLAS—MoneyGram has introduced a new service that allows consumers to buy, sell, and hold cryptocurrency.
This new service will allow nearly all U.S. customers to buy, sell, and hold cryptocurrencies such as bitcoin, ethereum, and litecoin, and the company plans to extend the offering in 2023 depending on global regulations, The Paypers reported.
The implementation follows MoneyGram’s minority investment in crypto exchange Coinme, the licensed cryptocurrency exchange and API-driven crypto-as-a-service provider that enables the new functionality. In 2021, MoneyGram worked with Coinme to allow customers to buy and sell Bitcoin for cash at 12,000 retail locations in the U.S., The Paypers noted.
“The feature launch comes in the context of an ascending trend as far as consumer interest in digital currencies is concerned,” according to the report. “MoneyGram wants to position itself to meet these new demands by leveraging its global network, expertise in compliance, and recent initiatives in the space.”
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