Home Crypto After Testing XRP, Former Ripple Partner MoneyGram Expanding Access to Bitcoin

After Testing XRP, Former Ripple Partner MoneyGram Expanding Access to Bitcoin

Money switch behemoth MoneyGram says it can now facilitate the shopping for and promoting of Bitcoin at its brick-and-mortar shops.

In a press launch, MoneyGram reveals it has partnered with cryptocurrency money change Coinme to allow clients to buy Bitcoin utilizing fiat currencies in addition to convert the flagship cryptocurrency into money at 1000’s of places within the US.

“The MoneyGram and Coinme integration will present a quick and straightforward approach for purchasers to buy bitcoin with money and withdraw bitcoin holdings in money. It is specifically designed for purchasers who could also be all in favour of using bitcoin for the primary time.”

Plans for growth embody extending the service to choose markets overseas within the second half of this 12 months in addition to including different crypto property sooner or later.

“The service will [initially] be obtainable at choose MoneyGram places beginning within the U.S. within the coming weeks. Additional nations and cryptocurrencies will likely be made obtainable shortly thereafter.”

The partnership with Coinme comes months after MoneyGram introduced it suspended its relationship with Ripple, which allowed MoneyGram to conduct transfers utilizing the XRP cryptocurrency. The suspension got here after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit accusing Ripple of illegally promoting securities within the type of XRP.

In a 2018 interview on CNBC, former SEC chairman Jay Clayton, beneath whose tenure the markets regulator sued Ripple, acknowledged that Bitcoin isn’t a safety.

“Cryptocurrencies: These are replacements for sovereign currencies, substitute the greenback, the euro, the yen with bitcoin. That sort of foreign money isn’t a safety.”

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Featured picture: Shutterstock/ArtStudio29

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