After dumping Ripple, MoneyGram turns to Bitcoin, enables retail Bitcoin buying
BTC Peers
Published May 12, 2021 06:07PM ET
Updated May 12, 2021 06:30PM ET
After dumping Ripple, MoneyGram turns to Bitcoin, enables retail Bitcoin buying
Former Ripple partner, MoneyGram, is not ending its foray into the cryptocurrency space with XRP. The global money transfer company announced on Wednesday that U.S. customers will soon be able to purchase Bitcoin from retail outlets across the country.
Recall that MoneyGram suspended trading on Ripple in February following the latter’s ongoing battle with the U.S. Securities and Exchange Commission.
In a statement issued on Wednesday, MoneyGram announced a partnership with crypto exchange and Bitcoin ATM operator Coinme. The partnership will allow United States customers to buy and sell their Bitcoin holdings for cash at thousands of brick-and-mortar stores across the country.
MoneyGram CEO Alex Holmes expressed his optimism that the move would allow his company to capture a new customer segment. He 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.Traditional financial institutions have been steadily debiting one form of crypto-related feature or the other. The trend is quickly becoming a norm across the industry. Back in February, PayPal expanded its crypto offering to UK residents.
Continue reading on BTC Peers
Get The News You Want
Written By: BTC Peers
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.