The global peer-to-peer (P2P) digital payments company MoneyGram announced on Nov. 1 that users in nearly every state in the United States and the District of Columbia can buy, sell, and hold cryptocurrencies, specifically Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), through your MoneyGram mobile app.
The digital payments company said it plans to add more digital currencies to its app in 2023, as global regulations allow.
Alex Holmes, President and CEO of MoneyGram, stated:
“As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services thanks to our global network, leading compliance solutions and strong culture. of fintech innovation.”
The launch of this latest cryptocurrency-related initiative is part of the company’s vision to increase adoption by bringing “real-world cryptocurrency and blockchain use cases to life.” Moneygram shared that this addition of crypto to its app was made possible through its partnership with licensed cryptocurrency exchange and API-powered crypto-as-a-service provider Coinme.
Despite being in a bear market with no clear end in sight, some companies appear to be laying the groundwork for expansion in the crypto world. On October 25, Cointelegraph reported that Western Union filed three trademarks covering digital wallet management, trading of digital assets and commodity derivatives, issuance of security tokens, and brokerage and insurance services.
Also in October, mobile payment processing app Cash App added support for transactions through the Bitcoin Lightning Network. The new feature will allow Cash App users to send and receive Bitcoin (BTC) in the faster and more efficient layer 2 protocol.
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