Buying Bitcoin just became easier, as MoneyGram joined Coinme in partnership to offer Bitcoin to every day investors.
MoneyGram is the second-largest funds transfer company in the world. It is widely used by off-banking people. At MoneyGram users can transfer money, pay bills, exchange currency, charge mobile top-up, and reload prepaid card services.
Coinme is a well positioned DeFi, who developed the first ATM-type chain for crypto, making it easy for people to ramp on/off Bitcoin with fiat cash at select Coinstar locations or kiosks.
These Coinstar terminals are typically used to convert small change (physical coins) into paper notes, and can be found in several groceries and at Walmart stores. Basically Coinstar machines are adding a touch screen button that reads “buy Bitcoin” within the menu.
MoneyGram is Back to Cryptos
The big news is that MoneyGram has returned to crypto, teaming up with Coinme. This joint partnership plans to enable Bitcoin on-off ramping all over the United States, expanding to international markets later this year.
After terminating its partnership with Ripple beginning 2021, with this new move, MoneyGram reassures that cryptocurrency is still an integral part of its business portfolio.
Coinme, self regarded as the cash-to-crypto global network, by tying-in with MoneyGram, will see an expansion of 12,000 additional point-of-sale locations.
Coinme CEO Neil Bergquist said, “by integrating MoneyGram’s global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across MoneyGram’s system using cash.”
New Ways to Buy Cryptos
MoneyGram CEO, Alex Holmes, referred to this mutual cooperation as an opportunity to expand his business to a whole new customer segment, as well as adding value to regular customers at MoneyGram agencies.
Instead of positioning themselves as a mere crypto ATMs company, Coinme is exploiting already existing financial rails, like Coinstar and MoneyGram networks, to avoid building infrastructure from scratch.
Despite the latest market turmoil, trends show demand for Bitcoin is rising. Many novice buyers, typically tech adverse, can access a convenient Bitcoin ramping service at local grocery stores or nearest MoneyGram agency.
Coinme, by partnering with MoneyGram, is aiming at becoming the largest fully licensed crypto-cash exchange globally.