According to the company, users in select regions can now trade and store Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). Global peer-to-peer (P2P) digital payments company MoneyGram announced on 01/01 that users could buy, sell and hold cryptocurrencies in almost every US state and the District of Columbia; notably Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) via their mobile app MoneyGram. The digital payments company plans to add more digital currencies to its app in 2023, global regulations permitting.
Alex Holmes, Chairman and CEO of MoneyGram, stated:
As consumer interest in digital currencies continues to grow, our global network, leading compliance solutions and a strong culture of fintech innovation uniquely position us to meet that demand and bridge the gap between blockchain and traditional financial services close.
Launching this latest cryptocurrency-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 addition of crypto to its app was made possible through its partnership with licensed crypto exchange and API-driven crypto-as-a-service provider Coinme. Although some companies are in a bear market with no clear end, some appear to be laying the groundwork for expansion into the crypto world. On Oct. 25, Western Union had filed three trademarks covering digital wallet management, digital asset and commodity derivative exchanges, security token issuance, and brokerage and insurance services.
Also, in October, the mobile payment processing app Cash App added support for transactions via the Bitcoin Lightning Network. The new feature aims to enable Cash App users to send and receive Bitcoin (BTC) fastest and most efficiently. Layer 2 Protocol.