Moneygram added cryptocurrency trading services to the application

Moneygram added cryptocurrency trading services to the application

MoneyGram money transfers service launched for US users the Bitcoin trade and storage, Ethereum and Litecoin in a mobile application.

The solution was implemented thanks to cooperation with Coinme licensed cryptocurrency exchange. In 2021, partners opened the possibility of buying and selling bitcoin for fiat in the departments of the transmission provider.

MoneyGram also used the Stellar blockchain to provide payments in local currencies in the translated usd Coin (USDC) from Circle Stableco.

“Cryptocurrencies complement everything that we do in Moneygram. From dollars to euro, yen and so on we provide instant access to more than 120 currencies around the world, and consider digital assets as another option for entering and withdrawal [funds], ”said the chairman and CEO of the company Alex Holmes.

MoneyGram is hoped in the future to expand the number of cryptocurrencies supported by the application.

Recall that in 2019 the service began processing cross-border payments through the Ripple system systemon-Demand Liquidity.

In February 2021, the service refused to use the product based on the XRP token, citing uncertainty due to Ripple trial with the US authorities.

In March of that year, partners stopped cooperation.

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