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MoneyGram Debuts Crypto Purchases on Mobile App

With the launch of a brand new in-app service, money transfer operator MoneyGram is extending its financial management features to the realm of bitcoin.

On November 1st, the firm unveiled a new service enabling MoneyGram app users in the US to buy, trade, and digitally store currencies.

The release explains that users can now buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and Litecoin, expanding the range of currencies available to MoneyGram customers.

The Chairman and CEO of MoneyGram also mentioned in the announcement: 

“Cryptocurrencies are additive to everything we’re doing at MoneyGram we see crypto and digital currencies as another input and output option.” 

MoneyGram also announced in the release that it aims to enhance its future assortment of cryptocurrency coins as the company looks to grow into new areas in 2023.

According to the PYMNTS research, “Paying With Cryptocurrency: Can Crypto at Checkout Become a Profit Center for Merchants,” 48% of consumers desire to make money by investing in cryptocurrency.

MoneyGram’s expansion beyond money transfers into cryptocurrency trading allows the corporation to access a new demographic of customers while increasing its reach into modern payment methods.

More About MoneyGram:

MoneyGram, the world’s second-largest money transfer firm, provides a variety of corporate goods and services in addition to its money transfer and bill payment offerings. MoneyGram1 is the world’s second-largest money transfer company. You can use MoneyGram to send money online, within the app, or through a local agent, and you can pay for the transaction using cash, a wire transfer, or a debit or credit card. Payments may be scheduled to be collected in cash, deposited into the recipient’s bank account or mobile wallet, or transmitted electronically.

MoneyGram offers convenient cash collection payments worldwide, but if you transfer payment from the United States to a bank account in another country, it is possible that using MoneyGram will not be the most cost-effective choice.

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