In yet another move of further Bitcoin adoption, the American money transfer giant, MoneyGram, will allow users to buy and withdraw bitcoins from various brick-and-mortar locations.
Cryptocurrencies continue to occupy the center stage of the fintech industry following a massive rally in both prices and popularity.
Plenty of blue-chip and publicly traded companies have begun accepting bitcoins for their services, and some have even added it to their balance sheet, Tesla and MicroStrategy included.
Now, it appears that the latest company to jump on the bandwagon with a move towards serious mass adoption is MoneyGram.
The money transfer mogul has partnered up with the cryptocurrency exchange Coinme.
The fruit of this collaboration is a feature that allows people to buy bitcoin and withdraw it from brick-and-mortar locations within the US.
According to a CNBC report, in the coming weeks, existing and new Coinme users will be able to buy crypto with cash and withdraw it from MoneyGram’s conventional locations.
Speaking on the matter was Alex Holmes, MoneyGram’s CEO and Chairman, who 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 move comes soon after PayPal made its foray into the market, allowing millions of merchants to accept crypto for payments.
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