MoneyGram, one of the leading money transfer services, is partnering with Coinme to improve people’s access to Bitcoin.
While cryptocurrencies are rising in popularity, being able to access holdings and make use of them continues to pose a challenge for some. MoneyGram hopes to change that, in partnership with Coinme, making it easier for people to access their Bitcoin.
“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,” said Alex Holmes, MoneyGram Chairman and CEO. “Our unique, global network is an incredibly valuable asset, and we’re excited to open our platform to Coinme as we increasingly look to capture new growth by monetizing our network to new use-cases.”
The companies especially see an opportunity to help people who are just dipping their feet in the crypto market, making it easy to buy Bitcoin with cash and get cash for their Bitcoin holdings.
“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks,” said Neil Bergquist, Coinme CEO. “By integrating its global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across its system using cash. This is a major milestone for the bitcoin and cryptocurrency communities, and for the millions of people who will benefit from a trusted, easy and affordable onramp to digital currency.”