Moneygram to enable users to buy, sell and hold cryptocurrency via mobile app


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International digital peer-to-peer (P2P) funds firm MoneyGram has announced on Nov. 1 that customers in almost all U.S. states and the District of Columbia, should purchase, promote, and maintain cryptocurrency; particularly, Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), through its MoneyGram cellular app. 

The digital funds firm stated that it plans so as to add extra digital currencies to its app in 2023, as world laws permit.

Alex Holmes, Chairman and CEO of MoneyGram, said:

“As client curiosity in digital currencies continues to speed up, we’re uniquely positioned to satisfy that demand and bridge the hole between blockchain and conventional monetary providers because of our world community, main compliance options, and robust tradition of fintech innovation.”

The rollout of this newest crypto-related initiative is part of the corporate’s imaginative and prescient to extend adoption by bringing “real-world cryptocurrency and blockchain use instances to life.” Moneygram shared that this crypto addition to its app was made attainable by its partnership with licensed crypto alternate and API-driven crypto-as-a-service supplier, Coinme.

Related: Paypal’s crypto ‘super app’ set to roll out soon

Regardless of being in a bear market with no clear finish in sight, some corporations look like laying t foundations to broaden into the crypto world. On Oct 25, Cointelegraph reported that Western Union filed three trademarks that coated managing digital wallets, exchanging digital property and commodities derivatives, issuing tokens of worth, and brokerage and insurance coverage providers.

Additionally in October, the cellular fee processing app, Cash App, added support for transactions via the Bitcoin Lightning Network. The brand new characteristic is about to permit Money App customers to ship and obtain Bitcoin(BTC) on the sooner, extra environment friendly layer-2 protocol.