MoneyGram to enable crypto-to-cash transactions

MoneyGram to enable crypto-to-cash transactions
фото показано с : coinjournal.net

2021-5-13 12:05

MoneyGram will allow people in the United States to withdraw their crypto holdings in cash

Leading financial institution MoneyGram announced that it would allow people in the US to withdraw their cryptocurrency holdings in cash. The service will make it easier for people to swap their cryptocurrencies for fiat money.

The money transfer firm said it has partnered with crypto exchange and ATM operator Coinme to provide this feature to its customers in the United States. In the next few weeks, Coinme users will be able to buy cryptocurrencies or withdraw them from the thousands of MoneyGram outlets across the United States.

MoneyGram said it would expand the service to other parts of the world in the second half of the year. MoneyGram’s chairman and CEO commented, “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.”

MoneyGram has already established a presence in the cryptocurrency space. The financial services firm partnered with Ripple in 2018 to permit the use of XRP coins in cross-border transactions. However, the partnership was suspended following earlier this year due to Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC). MoneyGram’s competitor, Western Union, is yet to comment on whether it intends to support cryptocurrencies in the near future.

The cryptocurrency space has witnessed an influx of traditional financial institutions in the past few months. PayPal and Venmo now allow millions of their customers to buy, sell, and store cryptocurrencies on their platforms. Mainstream banks such as Morgan Stanley, Goldman Sachs, JPMorgan, and BNY Mellon are all involved in the cryptocurrency space to varying degrees. An increasing number of publicly-listed companies accept cryptocurrencies as payment options or hold them in their balance sheet. Tesla and MicroStrategy are some of the biggest Bitcoin holders in this milieu.

 

The post MoneyGram to enable crypto-to-cash transactions appeared first on Coin Journal.

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moneygram transactions enable crypto-to-cash journal coin holdings

Источник: coinjournal.net

moneygram transactions → Результатов: 23


Фото:

Ripple Acquires 40% Of Asia’s Leading Remittance Payments Firm Tranglo – XRP Price Reacts

Ripple has been, for a long time, in the business of cross-border transactions which has seen it collaborate with payment firms like MoneyGram and being deployed across the globe. It recently expanded on these efforts with a 40% acquisition in Tranglo, a prominent cross-border payment firm based in Asia. The announcement of this not only […]

2021-3-30 14:11


Фото:

Swell 2019: MoneyGram CEO Says 10% of Transactions Between Mexico and U.S. Use On-Demand Liquidity

In June 2019, MoneyGram, one of the world’s largest money transfer companies, announced its plans to implement On-Demand Liquidity (ODL) through RippleNet. Less than six months later, MoneyGram Chairman and CEO Alex Holmes announced on stage at Swell 2019 that the company is currently moving 10% of its transaction volume through ODL between the United … Continued The post Swell 2019: MoneyGram CEO Says 10% of Transactions Between Mexico and U.S. Use On-Demand Liquidity appeared first on Ripple.

2019-11-8 11:24


Ripple’s on-demand liquidity platform reports a 75% increase in Q3

With its recent Q3 report, Ripple noted the rise in demand for its On-Demand Liquidity [ODL], earlier known as xRapid, leveraging XRP to source liquidity for cross-border transactions. The report read: “Ripple customers live with ODL, including MoneyGram and others, increased by 75% last quarter and dollar volume on ODL increased more than five times […] The post Ripple’s on-demand liquidity platform reports a 75% increase in Q3 appeared first on AMBCrypto.

2019-10-20 17:00


Фото:

Western Union Blockchain Patent, What Does This Mean For Ripple XRP

In February of this year, Western Union CEO Hikmet Ersek confirmed that his company was indeed experimenting with Ripple’s products for settling transactions and capital optimisation. This came a month after Ripple, which is striving to become the top-name in global money transfers, announced several high-profile partnerships including the potential tie in with Western Union’s rival, Moneygram.

2018-7-16 06:00


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