Financial services company MoneyGram has revealed plans to allow its US customers to buy and sell Bitcoin across its point-of-sale outlets in the country. MoneyGram said in an announcement on the 12th of May that it has partnered with Coinme Inc on the development. Through the partnership, users of MoneyGram across the US will be able to withdraw their crypto holdings for cash at these outlets. Also, customers will be able to buy crypto.
MoneyGram CEO Alex Holmes commented on the partnership, Holmes said:
“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 with Coinme to connect bitcoin to local fiat currency.”
MoneyGram has offered easy access to new users who are not comfortable with crypto exchanges. In the announcement, the financial services company said the new service would be available at specific locations in the US in the coming weeks.
The new development joins other payment services currently integrating cryptocurrency payments. Previously, PayPal announced that users can now buy and sell selected cryptocurrencies on its platform. Shortly after, Visa announced that it would begin to directly accept payments in USD Coin. Also, Mastercard and Gemini collaborated to issue crypto rewards credit cards.
Generally, fintech companies are beginning to offer crypto-related services.
Last month. PayPal’s CEO said that the company’s crypto commerce volume would hit $200 million in the next months.
