MoneyGram introduces new crypto service that allows customers to buy, sell and hold cryptocurrency via the MoneyGram app
Consumers in the US can now shop and save Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) using the company’s leading mobile app
This is the last one crypto-related service launch from a company that brings the real world cryptocurrency and blockchain use cases to life
DALLAS, 1 November 2022 /PRNewswire/ — MoneyGram International, Inc. (NASDAQ: MGI) (“MoneyGram” or the “Company”), a global leader in the development of digital P2P payments, today announced the launch of a new service that enables consumers to buy, sell and hold cryptocurrency via the MoneyGram mobile app. This new and innovative feature gives MoneyGram customers in almost every US state and District of Columbia1 the ability to shop and store Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) using the company’s leading mobile app.
This is the last one crypto-related service launch from a company that brings the real world cryptocurrency and blockchain use cases to life. From on/off services for digital wallets through partnerships with Coinme, Stellar and G-Coin, to cross-border settlement through Circle’s USD Coin (USDC), to the new ability to buy and store crypto simply by using its app, MoneyGram is pioneering cross-border payment innovation and blockchain-enabled settlement.
“Cryptocurrencies are additive to everything we do at MoneyGram. From dollars to euros to yen and so on, MoneyGram provides instant access to over 120 currencies around the world, and we see crypto and digital currencies as another input and output option,” said Alex Holmes, chairman and CEO of MoneyGram. “As a next step in the evolution of MoneyGram, we are excited to provide our customers with access to a reliable and easy-to-use platform to securely buy, sell and hold select cryptocurrencies.”
MoneyGram is on a mission to deliver innovative financial solutions that connect the world’s communities. With today’s announcement, the company continues to execute this strategy and best serve its customer base of tens of millions of people. MoneyGram is committed to investing in new growth opportunities and expanding beyond its core products to improve consumer financial services around the world.
Holmes added: “As consumer interest in digital currencies continues to grow, we are uniquely positioned to meet this 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. We am excited for this next chapter in our journey.”
The ability to buy, sell and hold crypto use of the MoneyGram app is made possible through the company’s existing partnership with Coinme, a licensee crypto exchange and API driven crypto-as-a-service-provider. Together, since 2021, MoneyGram and Coinme have collaborated to expand access to crypto by creating thousands of new locations in the United States for consumers to buy and sell bitcoin with cash.
MoneyGram is expected to expand its future range of crypto coins as the company explores expansion into other markets in 2023, as global regulations allow.
For more information, please visit: https://www.moneygram.com/mgo/us/en/m/crypto/
About MoneyGram International, Inc.
MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the development of digital P2P payments, delivers innovative financial solutions to connect the world’s communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people over the past five years. The company leverages its modern, mobile and API-powered platform and partners with the world’s best brands to serve consumers through its digital direct-to-consumer channel, global retail network and embedded finance business for corporate clients. MoneyGram is also a leader in cross-border payment innovation and blockchain-enabled settlement. For more information, visit ir.moneygram.com, follow @MoneyGram on social media, and explore the website and mobile app through moneygram.com.
MoneyGram Media Contact
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SOURCE MoneyGram
