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Moneygram to enable users to buy, sell and hold cryptocurrency via mobile app

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World digital peer-to-peer (P2P) funds firm MoneyGram has announced on Nov. 1 that customers in almost all U.S. states and the District of Columbia, can purchase, promote, and maintain cryptocurrency; particularly, Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), through its MoneyGram cell app. 

The digital funds firm mentioned that it plans so as to add extra digital currencies to its app in 2023, as international rules enable.

Alex Holmes, Chairman and CEO of MoneyGram, acknowledged:

“As shopper curiosity in digital currencies continues to speed up, we’re uniquely positioned to satisfy that demand and bridge the hole between blockchain and conventional monetary providers due to our international community, main compliance options, and powerful tradition of fintech innovation.”

The rollout of this newest crypto-related initiative is part of the corporate’s imaginative and prescient to extend adoption by bringing “real-world cryptocurrency and blockchain use circumstances to life.” Moneygram shared that this crypto addition to its app was made attainable by way of its partnership with licensed crypto trade and API-driven crypto-as-a-service supplier, Coinme.

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

Regardless of being in a bear market with no clear finish in sight, some corporations look like laying t foundations to increase into the crypto world. On Oct 25, Cointelegraph reported that Western Union filed three trademarks that lined managing digital wallets, exchanging digital property and commodities derivatives, issuing tokens of worth, and brokerage and insurance coverage providers.

Additionally in October, the cell cost processing app, Cash App, added support for transactions via the Bitcoin Lightning Network. The brand new function is about to permit Money App customers to ship and obtain Bitcoin(BTC) on the sooner, extra environment friendly layer-2 protocol.