Money transfer giant MoneyGram will let customers withdraw their cryptocurrency holdings in cash, marking another step from mainstream financial institutions toward acceptance of nascent digital currencies.
The company said Wednesday it had teamed up with bitcoin exchange and ATM operator Coinme on the feature. In the coming weeks, new and existing Coinme users will be able to buy crypto with cash or withdraw it from thousands of MoneyGram’s brick-and-mortar locations in the U.S.
The MoneyGram deal is the latest example of mainstream cryptocurrency adoption over the past year as prices of bitcoin, ethereum, and other digital currencies have grown.
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The company plans to expand the offering internationally in the second half of 2021.
The company said, “The Moneygram and Coinme integration will provide a fast and easy way for customers to purchase bitcoin with cash and withdraw bitcoin holdings in cash.”
