Payments company MoneyGram is rolling out a new service that allows consumers to buy, sell and hold crypto assets using the company’s mobile app.
In a statement, the money transfer giant says the MoneyGram app’s crypto trading feature will support Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and is now available to customers in nearly all US states and the District of Columbia.
Says MoneyGram chairman and CEO Alex Holmes,
“We see crypto and digital currencies as another input and output option. As a next step in the evolution of MoneyGram, we’re thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies.”
The company is bringing the new service to its customers with the help of the crypto exchange CoinMe. The two companies have been working together since 2021 when MoneyGram teamed up with CoinMe to enable customers to buy Bitcoin using fiat currency and convert the digital coin to cash at its physical locations in the US.
In June, MoneyGram also launched a new service in key remittance markets, including the Philippines, US, Canada and Kenya, to bridge fiat money and cryptocurrencies using payments blockchain Stellar (XLM) and the stablecoin USD Coin (USDC).