MoneyGram
After Testing XRP, Former Ripple Partner MoneyGram Expanding Access to Bitcoin
Money transfer behemoth MoneyGram says it will now facilitate the buying and selling of Bitcoin at its brick-and-mortar stores. In a press release, MoneyGram reveals it has partnered with cryptocurrency cash exchange Coinme to enable customers to purchase Bitcoin using fiat currencies as well as convert the flagship cryptocurrency into cash at thousands of locations […]
The post After Testing XRP, Former Ripple Partner MoneyGram Expanding Access to Bitcoin appeared first on The Daily Hodl.
MoneyGram to Offer Bitcoin at 20,000 U.S. Kiosks
Moneygram Lets Customers Buy and Sell Bitcoin With Cash at 12,000 Locations
Moneygram will start letting customers buy and sell bitcoin at 12,000 locations, thanks to a partnership with Coinme. The collaboration “will bring bitcoin to thousands of new point-of-sale locations in the U.S. with plans to expand to select international markets in the second half of 2021,” the companies say. Bitcoin at Moneygram Locations Moneygram International […]MoneyGram to allow retail Bitcoin buying in the US
MoneyGram customers in the United States will soon be able to buy Bitcoin in the country’s retail outlets across the country.
Crypto adoption among mainstream payment service companies continues to grow with MoneyGram set to join the list.
In a release issued on Wednesday, the global payment service announced a partnership with crypto exchange and Bitcoin (BTC) ATM operator Coinme Inc., to allow U.S. customers to withdraw their cryptocurrency holdings for cash across its point-of-sale outlets in the country.
As part of the announcement, MoneyGram also revealed that customers will be able to buy BTC and crypto in an expansion of the existing crypto-to-cash model pioneered by the almost 20,000 cryptocurrency ATMs around the world.
Commenting on the development, MoneyGram CEO Alex Holmes remarked:
“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.”
For MoneyGram, the ability to buy Bitcoin across its brick-and-mortar retail outlets might be a significant development for would-be first-time crypto users daunted by interacting with online cryptocurrency exchanges.
MoneyGram’s announcement also likely offers another indication of the potential for a unified money transmission licensing regime, especially for cryptocurrencies.
Back in September 2020, 48 U.S. states agreed to establish a single regulatory framework for money transmitters — a move with significant implications for 78 fintech businesses like MoneyGram with an annual turnover above $1 trillion.
MoneyGram debuting physical Bitcoin buying across its locations in the U.S. is also another example of fintech and payment service firms warming up to cryptocurrencies. From stables like PayPal to Visa and MasterCard, debuting some form of crypto-related feature is becoming a norm across the industry.
Back in March, PayPal began allowing U.S. customers to pay with Bitcoin across millions of online merchants on the platform. In April, PayPal CEO Dan Schulman said the company’s crypto commerce was on course to reach $200 million in a few months.
MoneyGram Facing Class-Action Lawsuit Over Relationship With Ripple and XRP
MoneyGram is facing a new lawsuit over its ties to the blockchain tech company Ripple. A newly filed class-action lawsuit claims the money transfer firm misled, lied or hid from investors pertinent information regarding Ripple and the cryptocurrency XRP. The suit comes months after the U.S. Securities and Exchange Commission (SEC) accused Ripple of selling […]
The post MoneyGram Facing Class-Action Lawsuit Over Relationship With Ripple and XRP appeared first on The Daily Hodl.