Cash to BTC Transaction Service Established by MoneyGram

Cash to BTC Transaction Service Established by MoneyGram

MoneyGram is yet another firm whose heavy investment in the Bitcoin business is worth a mention. The payment services giant has concluded the integration of buying and selling BTC ATMs around the U.S. The firm will spread these thousands of BTC for cash machines around the many states of the U.S.

It was this Wednesday that the firm announced that it has been partnered with Coinme, one of the major Bitcoin ATM companies in the industry today. Through this partnership, users can both sell and buy BTC from specialized ATMs with ease.

For now, some 12 000 MoneyGram locations will be supporting Coinme’s ATM machines, however, there are plans to expand to even more locations across the country. One of their main goals is to reach 20 000 MoneyGram locations in 32 states by Q3 2021. MoneyGram CEO Alex Homes revealed that his company is the first to bridge the gap between crypto and cash, connecting the digital currency to the local fiat.

Coindesk recently disclosed that Coinme and MoneyGram will be withholding 4% per transaction plus a fixed fee of $2.75. It goes without saying that these fees are very high.

The partnership will be expanding its newly found services outside of the United States sometime during the second half of 2021.

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