American money transfer firm MoneyGram International Inc. has partnered with cryptocurrency exchange Coinme to enable transactions in physical locations, CNBC reported.
- Under the partnership, Coinme users will be able to buy and withdraw cryptos from brick and mortar locations of MoneyGram.
- The service will be initially available in the United States in the coming weeks but will be expanded to other markets in the second half of the year.
- MoneyGram Chief Executive Officer Alex Holmes said the partnership will pioneer the crypto-to-cash model.
- MoneyGram in 2018 partnered with Ripple to roll out the XRP cryptocurrency in cross-border payments, but this was put on hold after Ripple was charged for supposedly illegally offering securities.
- Large investors have already entered the crypto space, driving a rally in Bitcoin and Ethereum, among others.
- According to Coindesk, Bitcoin was last trading at $55,814.87; Ethereum at $4,218.63; and Dogecoin at $0.473532.
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