MoneyGram adds cryptocurrency trading service to app

MoneyGram, a money transfer service, has introduced options for users in the U.S. to trade and store bitcoin, ethereum and litecoin within a mobile app.

The solution was implemented in partnership with licensed cryptocurrency exchange Coinme. In 2021, the partners opened the possibility to buy and sell Bitcoin in fiat currency at the branch of the transfer provider.

MoneyGram also leverages the Stellar blockchain to provide local currency payments for transfers of Circle’s USD Coin (USDC) stablecoin.

“Cryptocurrencies complement everything we do at MoneyGram. From USD to EUR, JPY and more, we provide instant access to over 120 currencies around the world and see Crypto assets as another input and output option [средств]”, – said Alex Holmes, chairman and CEO of the company.

MoneyGram expects to expand the number of cryptocurrencies supported by the app in the future.

Recall that in 2019, the service started processing cross-border payments through Ripple’s on-demand liquidity system.

In February 2021, the service stopped using XRP token-based products, citing uncertainty due to Ripple’s lawsuit with U.S. authorities.

In March of the same year, the partners stopped working together.

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Source of information: compiled from FORKLOG by 0x information.The copyright belongs to the author Роман Петров, and may not be reproduced without permission

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