MoneyGram, an American money transfer company, has signed a partnership agreement with Coinme, a cryptocurrency exchange. With the partnership, the companies plan to enable the cash funding and payout of cryptocurrency purchases and sales.
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According to a press release, the both companies plan to bring bitcoin to thousands of new point-of-sale locations around the US. It is also expected that MoneyGram and Coinme will expand their services to international markets in the second half of 2021. MoneyGram CEO, Alex Holmes, notes that the partnership opens its business to a "new customer segment."
"Our unique, global network is an incredibly valuable asset, and we are excited to open our platform to Coinme as we increasingly look to capture new growth by monetizing our network to new use-cases," Holmes added.
MoneyGram says the new service will be available at select locations starting in the US in the coming weeks. Additional countries and cryptocurrencies will be made available shortly thereafter, the company added.
Earlier in February, Ripple broke up with MoneyGram. According to Ripple, the decision has been reciprocal. Ripple also added that the both companies might cooperate again in the future.
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