According to the latest news, MoneyGram has announced on Wednesday that it is going to allow the customer to buy and sell bitcoins and that too for cash which is at the value of 12000 retail locations with being partnered with the CoinMe platform. This cash transfer company is planning to introduce their bitcoin trade in almost 2000 stores, which are spread in 32 states by the Q3, according to the CEO of the CoinMe platform, who is Neil Bergquist. His cryptocurrency firm is already facilitating the cash for the bitcoins, which are swapping for around the 6000 supermarket stands.
The MoneyGram and the CoinMe both will take 4% of the transactions which the customers make and an additional $2.75 in the fees. The MoneyGram is a Walmart-based company, and its locations will charge $2 more from the customers. This rollout has been expanded vastly for the investors’ access to the crypto touchpoints of the brick and mortar. You will be amazed to know that according to the Coin ATM Radar, less than 3000 crypto booths and the tellers are allowing the users to sell their bitcoin and that too in person through the 17000 locations, which are facilitating the buys. MoneyGram has also provided a hint that the service was at work.
According to the CEO Alex Holmes, this opportunity of providing the service to the customer in which they can walk into the MoneyGram location and then can easily load or unload their bitcoin wallet is pretty amusing. MoneyGram has also received a ton of dollars in order to use the XRP token for making cross-border transactions. This relationship with the ripple labs and the money gram ended in march when the US securities and the exchange commission filed a grant against the ripple labs in the previous year. Holmes also reflects on this thing and has said that it is very unfortunate which has happened with the ripple labs, and it was a great thing for us and has helped in moving us toward blockchain technology.
He also cited that the challenges which they are facing currently with the SEC and the regulation of the government are continuing to be a big topic in the cryptocurrency world. He also said that it is quite difficult to operate chiefly in the United States, but they will see where the roads will eat them. He also stated that his company has some under development for supporting the digital currencies which they are going to add, so they will have a future press release for the MoneyGram to run in the future.