As global legislation allows, the digital payments startup wants to add new digital currencies to its app in 2023.
MoneyGram's Chairman and CEO, Alex Holmes, stated:
"With our global network, leading compliance solutions, and a strong culture of fintech innovation, we are perfectly positioned to fulfill consumer interest in digital currencies and bridge the gap between blockchain and traditional financial services."
The launch of this latest cryptocurrency-related effort is part of the company's goal of increasing adoption by bringing "real-world cryptocurrency and blockchain use cases to life." MoneyGram stated that the integration of cryptocurrency into its app was made possible through a relationship with Coinme, a regulated crypto exchange, and API-driven crypto-as-a-service provider.
Paypal's cryptocurrency The'supar app' will be available soon.
Despite the fact that we are in a bear market with no apparent end in sight, several corporations appear to be building the groundwork for future expansion into the crypto sector. Cointelegraph reported on October 25 that Western Union had filed three trademarks covering managing digital wallets, exchanging digital assets and commodities derivatives, issuing value tokens, and brokerage and insurance services.
Also in October, the mobile payment processing service Cash App enabled support for Bitcoin Lightning Network transactions. Users of the Cash App will be able to send and receive Bitcoin via the quicker, more efficient layer-2 protocol.