MoneyGram will allow cryptocurrency holders in the United States to cash out their holdings, marking yet another step forward in mainstream financial institutions' acceptance of emerging digital currencies.
The money transfer company announced on Wednesday that it had collaborated on the feature with Coinme, a bitcoin exchange and ATM operator. Coinme users will be able to buy cryptocurrency with cash or withdraw it from thousands of MoneyGram locations across the United States in the coming weeks.
Through partnerships with Coinstar and MoneyGram, Coinme now powers over 20,000 physical locations to buy and sell bitcoin using cash.
Customers will be able to buy bitcoin with cash and withdraw bitcoin holdings in cash thanks to the MoneyGram and Coinme integration. It was created with customers in mind who may be interested in using bitcoin for the first time.
The MoneyGram and Coinme partnership will create thousands of new point-of-sale locations to buy and sell cryptocurrency, bringing the total number of cryptocurrency kiosks in the world to under 20,000.
MoneyGram is at the forefront of the digital P2P payments revolution. With a purpose-driven money-movement strategy, a strong fintech innovation culture, and leading customer-centric capabilities.
Coinme is the United States' largest licensed cryptocurrency cash exchange. Coinme was founded in 2014 with the simple belief that buying digital currencies should be simple and accessible to everyone.