In yet another move of further Bitcoin adoption, the American money transfer giant, MoneyGram, will allow users to buy and withdraw bitcoins from various brick-and-mortar locations.
- Cryptocurrencies continue to occupy the center stage of the fintech industry following a massive rally in both prices and popularity.
- Plenty of blue-chip and publicly traded companies have begun accepting bitcoins for their services, and some have even added it to their balance sheet, Tesla and MicroStrategy included.
- Now, it appears that the latest company to jump on the bandwagon with a move towards serious mass adoption is MoneyGram.
- The money transfer mogul has partnered up with the cryptocurrency exchange Coinme.
- The fruit of this collaboration is a feature that allows people to buy bitcoin and withdraw it from brick-and-mortar locations within the US.
- According to a CNBC report, in the coming weeks, existing and new Coinme users will be able to buy crypto with cash and withdraw it from MoneyGram’s conventional locations.
- Speaking on the matter was Alex Holmes, MoneyGram’s CEO and Chairman, who 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 a bridge with Coinme to connect bitcoin to local fiat currency.
- The move comes soon after PayPal made its foray into the market, allowing millions of merchants to accept crypto for payments.