Money gram in a recent update mentioned the company’s intention to start allowing cash-bitcoin transactions across their retail outlets. Reports have it that Wednesday the idea will be officially launched and now customers can walk into their stores to buy and sell Bitcoin for cash. This will be implemented across their 12,000 US retail outlets. This service is available in partnership with coinme, crypto to cash exchange. The companies plan to charge customers 4% of each transaction plus $2.75 fees. This collaboration will make Bitcoin available in new points of sale locations across the United States. I
MoneyGram CEO, Alex Holmes stated on the company’s May earnings call that it’s an exciting thing for customers to be able to walk into MoneyGram locations and get crypto-cash transactions done. Reports also have it that this service will first of all be available to selected 12,000 MoneyGram locations, then it will gradually spread to other countries. There might also be ongoing plans for Money gram to be accepting other types of cryptocurrencies apart from Bitcoin from their customers in the long run.
This new development will make it easier for potential investors or customers who are interested in bitcoin to have an easy sail. It will also open the two companies up to an entirely new market as this is the first of its kind.
Meanwhile, Brex launches a crypto reward program for its business clients. Brex a San-Fransisco-based financial firm launched a crypto rewards system for business clients. This means that their clients will be able to exchange brew reward points for bitcoin and Ether. Brex believes that cryptocurrency will play a major role in the future of finance. According to the company’s sales officer, the company has an interest in the crypto market and decentralized finance and will soon devise new means for crypto-based services for their customers.
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