P2P Payments Firm MoneyGram to Let Its Users Purchase, Sell And Hold Crypto Via Mobile App
MoneyGram, the firm which provides peer-to-peer digital payment services across the globe, declared on the 1st of November that the consumers of the venue across almost all of the states within the U.S. as well as the District of Columbia will be permitted to sell, purchase, as well as hold crypto assets, particularly Litecoin, Ether, and Bitcoin by using the mobile app of MoneyGram.
MoneyGram Allows Clients to Avail Crypto-Asset Services with Its Mobile App
The digital payment firm stated that it has a strategy to incorporate additional digital currencies into the app during the coming year, in line with the permission of worldwide regulations. The CEO and chairman of MoneyGram, Alex Holmes, asserted that with the consistent increase in the interest of the customers in digital currencies, they are exclusively preparing to cope with that demand.
He added that the platform is endeavoring to fill the gap between conventional and blockchain-based financial services with the help of its worldwide network, progressive compliance solutions, as well as the resilient culture of innovation in the fintech world. The introduction of this unique crypto-related service is included in the vision of the firm to elevate the adoption by offering real-world use cases of the blockchain and crypto.
MoneyGram disclosed that the respective crypto inclusion in the app thereof had become possible via the venue’s collaboration with Coinme (a crypto-as-a-service provider and a licensed crypto exchange). Even though the bear market across the crypto world does not have any clear conclusion in the scene, a few firms seem to be making efforts to spread out their span in the world of cryptocurrency.
Payment Providers Swarm to Crypto Services to Increase their User Base
On the 25th of the previous month, it was reported that 3 trademark filings were submitted by the Western Union related to the management of digital assets, the exchange of the digital assets as well as the commodities derivatives, the issuance of the value tokens, and the insurance and brokerage services.
In the same month, Cash App (a mobile-based app for the processing of payments) started offering support for the transfers done through the Bitcoin Lightning Network. The latest service will permit the consumers of Cash App to receive and send Bitcoin in a rapid and additionally effective way with the use of the layer-2 protocol.
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