Moneygram to allow users to buy, sell and hold cryptocurrencies through a mobile application

Global peer-to-peer (P2P) digital payments company MoneyGram announced on Nov. 1 that users in nearly every US state and the District of Columbia can buy, sell, and hold cryptocurrencies; specifically, Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), through its MoneyGram mobile app.

The digital payments company said it plans to add more digital currencies to its app in 2023, as global regulations allow.

Alex Holmes, Chairman and CEO of MoneyGram, said:

“As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet this demand and bridge the gap between blockchain and traditional financial services through our global network, compliance solutions technology and our strong culture of fintech innovation.”

Rolling out this latest crypto-related initiative is part of the company’s vision to increase adoption by bringing “real-world cryptocurrency and blockchain use cases” to life. Moneygram shared that this crypto addition to its app was made possible through its partnership with licensed crypto exchange and API-driven crypto-as-a-service provider, Coinme.

Related: Paypal’s crypto “super app” set to roll out soon

Despite being in a bear market with no clear end in sight, some companies seem to be laying the groundwork to grow in the crypto world. On October 25, Cointelegraph reported that Western Union had filed three trademarks that covered digital wallet management, digital asset and derivatives trading, value token issuance, and brokerage and insurance services. .

Also in October, mobile payment processing app Cash App added support for transactions via the Bitcoin Lightning Network. The new feature is set up to allow Cash App users to send and receive Bitcoin (BTC) over the faster and more efficient Layer 2 protocol.