MoneyGram Users Can Trade Bitcoin And Crypto from Its Money Transfer App
While it's unclear exactly how MoneyGram will integrate cryptocurrency into its service, it's clear that the company's decision to go down this path reflects its confidence in the growing interest in digital currencies. As cryptocurrency's popularity grows and the regulatory framework evolves, MoneyGram is well positioned to strengthen its position in this space.
The new MoneyGram crypto service will allow users in the United States and District of Columbia to purchase and store multiple cryptocurrencies through its app. The app will allow users to buy, hold, and sell different crypto assets. In addition to allowing users to buy and sell cryptocurrencies, users will also be able to store and manage their digital assets through the app.
While the new crypto feature is not directly tied to the remittance business, it will likely drive engagement with the app and position the company as a digital-first provider. In fact, MoneyGram's digital transaction volume grew 36% YoY in Q2 and accounted for 44% of all remittances in the period. The company's commitment to digital currencies has allowed it to stay at the forefront of the growing crypto remittance industry.
In addition to this new cryptocurrency service, MoneyGram is also working with Circle and Stellar to provide on/off-ramp services for digital wallets. These partnerships will enable users to trade cryptocurrency in nearly all states using the app. Additionally, MoneyGram has also developed ties with Circle and G-Coin to provide cross-border settlement of USD Coin. In addition, it plans to make this service available in a number of other locations.
MoneyGram is a global leader in digital P2P payments, and with the help of Coinme, it's set to expand into the cryptocurrency market. By launching a cryptocurrency service through their mobile app, MoneyGram is helping unbanked populations gain access to the digital economy.
Coinme, a cryptocurrency exchange, is a platform that allows users to buy and sell cryptocurrency. Coinme is a service that works with MoneyGram to help users buy and sell bitcoins and other cryptocurrencies. Currently, the company offers support for Bitcoin, Ethereum, and Litecoin, and plans to expand their cryptocurrency offerings over the next year.
MoneyGram has a long history of innovation and is a leader in digital P2P payments. It has grown to serve over 150 million people in the last five years. With its modern platform and global reach, it works with top brands and consumers to deliver innovative financial solutions. It pioneered cross-border payments and blockchain-enabled settlement.