Moneygram permitted to purchase, sell and store cryptocurrencies using its mobile app

Moneygram is including cryptocurrencies in its mobile application.
The users of almost US states and the District of Columbia will be benefited through this feature.

Moneygram, an American company offering cross-border P2P payments has permitted users from almost all countries in the United States and the District of Columbia to purchase, sell and store cryptocurrency.

On November 1, Moneygram publicized that users from the aforementioned places can buy, sell and store cryptocurrency particularly Bitcoin, Ether, and Litecoin through its Moneygram mobile app.

MoneyGram announces the launch of a new service enabling consumers to buy, sell and hold cryptocurrency via The MoneyGram App. This feature gives customers in nearly all U.S. states the ability to trade and store BTC, ETH and LTC.
Read more: https://t.co/13TzRJlSPc pic.twitter.com/FixCCJc0Jc
— MoneyGram (@MoneyGram) November 1, 2022

The news was also shared by Litecoin, a decentralized peer to peer cryptocurrency through a Twitter post.

In regard to cryptocurrencies, the money transfer company revealed that the company has plans to add more digital coins to its mobile application in the next year, as the law allows worldwide. The chairman and CEO of Moneygram stated:

“As the interest in digital currencies among clients is increasing day by day, we are there to fulfill the demand and fill the gap between blockchain and common financial services.”

He also thanked his network all over the world, leading consent solutions and a secure tradition of fintech innovation.”

Moneygram mobile app was launched on 13 May 2014 and it is offered by MGI. The mobile app allows you to transfer money directly into bank accounts, mobile wallets, or cash pickup. The app offers features such as sending money internationally or in the US, paying thousand of billers, and earning discounts with many rewards.

The company wants to bring crypto into limelight by drawing real world cryptocurrency and blockchain use cases to daily life. MoneyGram has added the feature of buying, selling and holding the cryptocurrency as it has collaborated with Coinme, a U.S. licensed cryptocurrency exchange which provides a back-end technology to enable financial system.

The CEO Alex Holmes also revealed that:

“Cryptocurrencies are supplementary to everything we are doing at the platform. Talking about dollars, euros, yen, etc, Moneygram permits quick approach to more than 120 currencies globally, and we consider crypto and virtual coins as another input and output option. For the growth of the platform, we are much excited to give our customers with approach of a credible and easily approachable platform to purchase, sell and store cryptocurrencies with security.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing