The money transfer company MoneyGram will offer its customers a new service that will let them trade digital currency for cash.
MoneyGram in collaboration with Coinme is giving people a new possibility to approach crypto. Tradings will only be available in the United States, but the companies plan to expand it in more countries later this year. People will be able to purchase and sell bitcoin at over 12,000 retail locations all over the U.S.
“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency.”Alex Holmes, MoneyGram’s chairman and CEO
MoneyGram and Coinme will charge 4% of the total value of the transaction plus $2.75 in fees. MoneyGram locations based at Walmart will charge 2 additional dollars.
“The ability for anyone to walk into a MoneyGram location and load that wallet or unload that wallet is a pretty exciting service opportunity.”Alex Holmes, MoneyGram’s chairman and CEO
Coinme is a worldwide leader in digital currency financial services founded in 2014. The firm makes it very easy for its customers to buy bitcoin through cash at Coinstar locations.
“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks. By integrating its global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across its system using cash.”Neil Bergquist, Coinme’s CEO
MoneyGram is just another big company that is launching crypto services. PayPal is implementing them for quite some time now. In October 2020, the company allowed its US customers to trade digital assets like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on its platform.
Back in November 2018, the Crypto.com Visa Card was issued in Singapore. After some time, started to be available in the US, Canada, Europe, and the countries in Asia-Pacific. With this feature, users can trade digital currencies in U.S. dollar, Canadian dollar, British pound, euro, Hong Kong dollar, and Singapore dollar. They can also make credit or debit transactions and ATM withdrawals.