Moneygram App Adds Cryptocurrency Trading Options For Bitcoin, Ether, And Litecoin

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Last Updated on November 2, 2022 by Bitfinsider

MoneyGram, a publicly traded peer-to-peer payments company, has added cryptocurrency investment capabilities to its mobile app as other fintech companies expand their offerings. The majority of U.S. states now allow consumers to buy, sell, and keep bitcoin, ether, and litecoin, according to a company statement.

The move follows the company’s past explorations into cryptocurrencies, including its recent partnership with Stellar to facilitate payment settlements and local currency distributions with USDC. It also maintains a minority ownership in the cryptocurrency exchange and infrastructure provider Coinme, which provides the trading tools.

“Cryptocurrencies complement everything we do at MoneyGram,” stated CEO Alex Holmes. From dollars to euros to yen and beyond, MoneyGram provides fast access to more than 120 currencies worldwide, and we view crypto and digital currencies as an additional input and output option.

The company’s prior crypto attempts have not always produced the anticipated results. Due of its ongoing legal battle with the Securities and Exchange Commission, it terminated a cooperation with distributed ledger company Ripple in March of last year. With only three coins featured, the new service pales in comparison to the crypto trading tools offered by other fintech companies, such as Robinhood, Revolut, and N26, who have all attempted to expand their crypto trading tool offerings in recent months.

Where regulation permits, MoneyGram intends to extend its selection of tradable cryptocurrencies.

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.