BITCOIN AND CRYPTO

MoneyGram Introduces New Crypto Service Enabling Customers to Buy, Sell and Hold Cryptocurrency via the MoneyGram App

MoneyGram International | November 02, 2022 | Read time : 05:00 min

MoneyGram Introduces New Crypto Service Enabling Customers
MoneyGram International, Inc. (NASDAQ: MGI) (MoneyGram or the Company), a global leader in the evolution of digital P2P payments, today announced the launch of a new service enabling consumers to buy, sell and hold cryptocurrency via the MoneyGram mobile app. This new and innovative feature gives MoneyGram customers in nearly all U.S. states and the District of Columbia1 the ability to trade and store Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) by using the Company's leading mobile app.

This is the latest crypto-related service launch from a company bringing real-world cryptocurrency and blockchain use cases to life. From on/off-ramp services for digital wallets through partnerships with Coinme, Stellar and G-Coin, to cross-border settlement through Circle's USD Coin (USDC), to the new ability to buy and store crypto simply by using its app, MoneyGram is pioneering cross-border payment innovation and blockchain-enabled settlement.

"Cryptocurrencies are additive to everything we're doing at MoneyGram. From dollars to euros to yen and so on, MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option, As a next step in the evolution of MoneyGram, we're thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies."

- Alex Holmes, MoneyGram Chairman and CEO

MoneyGram is on a mission to deliver innovative financial solutions that connect the world's communities. With today's announcement, the Company is continuing to execute that strategy and best serve its customer base of tens of millions of people. MoneyGram is committed to investing in new growth opportunities and expanding past its core products to enhance consumer financial services around the world.

Holmes added: As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services thanks to our global network, leading compliance solutions and strong culture of fintech innovation. We are excited for this next chapter in our journey.

The ability to buy, sell and hold crypto using the MoneyGram app is made possible through the Company's existing partnership with Coinme, a licensed crypto exchange and API-driven crypto-as-a-service provider. Together, since 2021, MoneyGram and Coinme have partnered to expand access to crypto by creating thousands of new locations in the U.S. for consumers to buy and sell bitcoin with cash.

MoneyGram is expected to expand its future selection of crypto coins as the Company explores expansion to other markets in 2023, as global regulations allow.

About MoneyGram International, Inc.
MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, delivers innovative financial solutions to connect the world's communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people in the last five years. The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's top brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers. MoneyGram is also a leader in pioneering cross-border payment innovation and blockchain-enabled settlement.

Spotlight

A Utah-based fintech company, Atomic recently decided to partner with Galileo because of the customer overlap and because what they have built ties in nicely with what Galileo offers. Atomic's mission is to help the most financially vulnerable people in our society by enabling employment verification and direct deposit switch.


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