If you're stopping by for the first time and you haven't already and you want to, please subscribe.

MoneyGram, the new giant in the Bitcoin sphere

 


MoneyGram, the U.S. money transfer giant, will allow the purchase and sale of Bitcoin at its physical kiosks. An offer made possible thanks to its partnership with Coinme, a cash/crypto exchange operator and ATM provider.

Bitcoin becomes popular in payment infrastructures

The adoption of crypto-currencies by mainstream payment infrastructures continues to grow. After PayPal and its subsidiary Venmo, Visa and Mastercard integrating or planning to integrate stablecoins into their respective networks, it's MoneyGram, the world's number two money transfer company, that's getting in on the act.


In a statement released Wednesday, the company, which operates in more than 200 countries, announced that it will introduce a BTC buy/sell service for its U.S. customers in the coming weeks. Initially, 12,000 MoneyGram money points will be involved, with another 5,000 to follow. To access this new feature, users will need to download the Coinme app, which will allow them to get a quote to buy or sell a set amount of Bitcoin. If they accept the quote, the consumer will receive a code, valid for five minutes, to lock in the fee and present it to a MoneyGram cashier who will finalize the transaction.

A new user profile for Bitcoin

This initiative - juicy for its makers, who will each collect 4% on customer transactions plus an additional $2.75 fee - will likely open the cryptocurrency market to a new user profile.

Alex Holmes, CEO of MoneyGram:

This innovative partnership opens our business to a whole new customer segment, as we are the first to launch a cryptocurrency model by building a bridge with Coinme to connect bitcoin to local fiat currency.


Customers notably impressed, for one reason or another, by traditional crypto exchange platforms and who will be able to familiarize themselves with a Bitcoin that has become accessible. All the more accessible since many MoneyGram kiosks are installed in Walmart stores. Walmart is the world's largest general retailer, which also takes a small commission of about $2 on top of the customer's bill.


But this initiative also opens up the possibility of easily acquiring Bitcoin and selling it to unbanked people. This is a significant advantage because, according to Coin ATM Radar, fewer than 3,000 of the nearly 17,000 crypto kiosks and ATMs in the United States allow users to sell their Bitcoin for cash.

Bitcoin buy/sell service to expand

While the idea of buying/selling Bitcoin, considered the money of the internet, at a physical counter may seem somewhat incongruous, it meets, according to Coinme CEO Neil Bergquist, a real demand, especially from a segment of the population very attached to cash transactions.


The two partners intend to roll out their offering internationally in the second half of 2021.

Neil Bergquist , CEO of Coinme, statement from the release:

MoneyGram has spent more than 80 years building one of the largest P2P payment networks in the world. By integrating its global infrastructure with our licensed cryptocurrency exchange technology, we can enable the buying and selling of cryptocurrencies across its entire system using cash. This is a major milestone for the bitcoin and cryptocurrency communities, and for the millions of people who will benefit from reliable, easy and affordable access to digital currency. 


A way for MoneyGram to join its core business based primarily on money transfers between immigrant population and country of origin.

Comments

Post a Comment


To stay up-to-date with all of our latest content, please consider following us on social media.




Popular posts from this blog

Create a Payza account Free in 2 minutes!

Image
Payza is a free online payment service, like Paypal, Neteller and Payoneer, allowing you to send, transfer and receive money online very easily and securely. And you can also transfer money to your bank account or add it to your Payza account. How to open / create a Payza account? Registration is quick and easy, just click here www.payza.org then: - Click on "Sign up" and choose your type of account you want "Personal Account or Business". - Fill in your personal data correctly: Your no name and first name, email address and password "Enter at least 8 characters, include capital letters, lowercase letters, numbers and symbols". After your registration do not forget to check your mailbox to confirm your registration. Wait! Things are not done yet, let's talk about services, which Payza offers its members: 1. Opening an account for free and without annual fees. 2. Send money fast and safely. 3. Receive your payments quickly and sec...
Read more

Digital encapsulated tokens issued by FTX or Alameda are no longer redeemable!

Image
  Following FTX's Chapter 11 bankruptcy filing, the encapsulated cryptocurrency issued by crypto exchange FTX or its sister trading partner Alameda Research has now been hit by a significant drop in prices. According to Coingecko data, the bitcoin encapsulated on Sollet has fallen by more than 60% in the past 24 hours, significantly below the value of the original bitcoin. In contrast, the price of Ethereum encapsulated on Sollet also fell but by only 8% over the same 24-hour time frame. It should be noted that for both encapsulated digital tokens, soETH and soBTC, Coingecko displays a warning notice on its website that: SOBTC digital tokens are encapsulated with bitcoin tokens issued by FTX or ALAMEDA. These two entities have filed for Chapter 11 bankruptcy, so the original cryptocurrency is no longer recoverable. Cryptocurrencies, such as Bitcoin or Ethereum, on Solana make these assets available for use on the Solana blockchain so that users can hold or trade them in place of ac...
Read more

Huobi Group Announces the Launch of its Huobi Ventures Fund

Image
  Huobi Group, one of the world's leading crypto companies, has announced the launch of its “Huobi Ventures” investment fund. The subsidiary will have a $ 100 million investment fund that will focus on growing Huobi's investment portfolio and supporting various blockchain projects through long-term investment strategies. The new investment arm will put $ 100 million in blockchain and decentralized financing projects, DeFi, in its early stages over the next three years. The fund is also expected to be used to make strategic acquisitions to diversify and expand the "Huobi" portfolio and to create a dedicated non-exchangeable tokens (NFT) fund worth $ 10 million. Huobi Ventures integrates a number of existing investment vehicles including Huobi Eco Fund, Huobi Capital and Huobi DeFi Labs together. The new entity is now expected to lead Huobi's investment strategy. The new Huobi Ventures Fund is Huobi’s latest move to diversify its operations away from trading. This c...
Read more

Binance Launches $500 Million Loan Program to Support Bitcoin Miners, Who Can Get It?

Image
 Binance Pool, a mining subsidiary of Binance, has launched a $500 million lending project to support the cryptocurrency mining industry. It will provide loans to private Bitcoin (BTC) miners. According to an official blog post published on October 14, Binance Pool will provide access to a $500 million loan fund with several terms, which include the tenure of 18 to 24 months, and interest rates from 5% to 10%, against certain physical or digital assets. as a guarantee. To determine a borrower's creditworthiness, the company will look at various metrics, including current performance, mining strength, and security. Binance Pool will also launch cloud mining products, directly buying cloud mining hash power from bitcoin mining digital infrastructure providers. Speaking, a Binance spokesperson clarified that the potential lending criteria will only accept secured lenders: “One of the requirements is that the applicant must be classified as a Binance VIP user and have a minimum of PH/...
Read more

Create a Paysera bank account

Image
How to open/create a Paysera account? Paysera Bank is one of the best electronic banks in 2021 and was founded in 2006, with its headquarters in Lithuania. Paysera bank started as a real bank and not electronic, then after that it modernized and developed its services and became the owner of electronic bank services as well, surpassing its counterparts from other electronic banks. Advantages of Paysera card You can have a bank account with them for free. Provides the Visa Paisera card service that helps you activate your PayPal account. Currency exchange service that includes about 32 multiple currencies. More than 150 countries around the world can transfer money with the Paisera card Bank. The lowest commission and costs among its counterparts from other electronic banks. You can order up to five Visa cards for each account you hold with them. It has a high degree of security and account protection. You can transfer your paysera account to your WebMoney account or to your Payza bank...
Read more