MoneyGram, the 2 nd largest money transfer service in the world, and Coinme, the largest Bitcoin ATM provider in the world have reached an agreement. This allows for customers to purchase Bitcoin at any of the over 9000 locations of the MoneyGram service. Coinme ATM operators will receive a $200 bonus for each new Coinme ATM they install.
Summary of the situation
– MoneyGram will work with physical cryptocurrencies.
– Coinme plans to expand its crypto business globally by 2022.
North American money transfer company MoneyGram announced its merger with Bitcoin on Wednesday. The company will let customers buy bitcoin and withdraw their holdings of cryptocurrencies by converting them to cash. This applies globally, leaving bitcoin investors free to withdraw funds.
The news stunned many traders with long-standing relationships with North American banking institutions. MoneyGram had to partner with Coinme, the largest cryptocurrency exchange in the US, to complete the process. Through this large-scale collaboration, Coinme promises to support more than 20,000 physical locations nationwide.
Coinme and its partnership with MoneyGram to transfer bitcoins
Alex Holman, CEO of MoneyGram, said the partnership with Coinme opens up a new profit space for crypto investors. The company wants the digital currency to become a fiat currency like the dollar or the euro. However, the volatility of bitcoin and other cryptocurrencies cannot be compared to that of local currencies.
The new service will be rolled out to all MoneyGram stores in the United States in the coming months. Coinme also plans to expand this method globally by partnering with other cryptocurrency exchanges.
MoneyGram claims to have 150 million users worldwide. The company’s popularity will grow as the new bitcoin withdrawal system becomes known.
MoneyGram gets into the bitcoin business with othercompanies
The American company was founded in 1940 and is headquartered in Dallas, Texas. MoneyGram competes with Western Union for the title of best domestic and international transaction company.
MoneyGram first got involved with cryptocurrencies in 2017, and its popularity has only grown since then. While the company’s bitcoin principles are unclear, its intentions could be very good.
A global transaction company is getting into the cryptocurrency game after other similar companies seem to have gotten into the game. In February, Mastercard said it would begin supporting cryptocurrencies in the new year. The slight drop comes after the price of bitcoin hit a record high.
But PayPal also announced that it would be working with bitcoin to make purchases and sales more secure. These American cryptocurrency pioneers make the right decisions that attract traders. Since October last year, cryptocurrencies can be purchased in the PayPal wallet.
MoneyGram will issue an official statement when cryptocurrency transactions are approved. Bitcoin and other cryptocurrencies are expected to see their prices rise to new all-time highs following the announcement.
Switching from buying digital cryptocurrencies to physical cryptocurrencies can be a good idea and provide some security. Coinme has an excellent reputation in the US exchange industry and works well with Moneygram.
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