Moneygram, the famous America-based money transfer firm, has signed an agreement with the crypto exchange Coinme to offer BTC sales in hundreds of brick-and-mortar stores across the United States.
The move is likely to make it easier for the Bitcoin holders to withdraw their earnings and profits. In a statement, the company’s top official, Alex Holmes, stated that the partnership would help it target a new group of customers. He said,
This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency.
The announcement comes nearly two years after the payment giant partnered with Ripple to strengthen its position in the crypto market. Under the agreement, Moneygram used XRP for international settlements and received numerous financial benefits from the company.
But soon after Ripple and its top officials came under the radar of the American SEC, their partnership came to an end. Not only that, but the payment company is also facing lawsuits over the allegations that it made false claims about Ripple.