TL;DR Breakdown
• MoneyGram will work with physical cryptocurrencies.
• Coinme expects to expand its crypto operations globally by 2022.
The North American money transfer company, MoneyGram, announced its merger with Bitcoin last Wednesday. This company will allow its clients to buy in Bitcoin and withdraw their holdings of the crypto converted into cash. This measure is applied globally so the Bitcoin investor will have freedom in withdrawing cash.
This news has captivated many merchants with a long relationship with North American banking. For the process to complete, MoneyGram had to partner with Coinme, the largest crypto exchange in the United States. With this huge collaboration, Coinme promises to support over 20 thousand physical locations in the country.
Coinme and its partnership with MoneyGram to give Bitcoin
Alex Holmen, SEO at MoneyGram, said this partnership with Coinme opens up a new space for crypto investors to profit. The company wants the digital currency to become a fiat currency, such as the dollar or the euro. However, the volatility of Bitcoin and other cryptocurrencies is not compared to that of local currencies.
The new service will be rolled out to all MoneyGram locations in the United States in the coming months. Coinme also plans to take this method globally, partnering with other crypto exchange companies.
MoneyGram points out that it has 150 million users around the world. This popularity of the company will increase as the new Bitcoin withdrawal system is known.
MoneyGram joins the Bitcoin business with other companies
The American company was founded in 1940, and its headquarters are in Dallas, Texas. MoneyGram competes with Western Union to be the best national and international transaction company.
For the year 2017, MoneyGram became interested in cryptocurrencies, and since then, it has grown in popularity. Although the company’s guidelines with handling Bitcoin are not clear, their intentions could be very good.
The international transaction company joins the crypto game after other similar companies have seemingly invaded. For February, Mastercard said it would support cryptocurrencies starting this new year. This slight attraction is achieved after Bitcoin had a rise that would take it to reach its all-time high in price.
But PayPal also announced that it would work with Bitcoin to make the purchase/sale more secure. These American crypto pioneers are making good decisions that attract traders. Since October of last year, cryptocurrencies can be bought in the PayPal wallet.
MoneyGram will release an official statement when its crypto transactions are approved. After the announcement, Bitcoin and other cryptocurrencies are expected to increase in value and reach new all-time highs.
Going from buying digital to physical cryptocurrencies can be a great idea and provide secure storage. Coinme has a great reputation in American exchange banking and is a great partnership with Moneygram.
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