Crypto investors can buy and sell Bitcoin (BTC) with cash at MoneyGram's 12,000 outlets

While crypto adoption might have suffered a setback after Elon Musk announced Tesla’s suspension of Bitcoin payments, another big-name corporation just embraced crypto. MoneyGram has partnered with cryptocurrency exchange Coinme that will give people access to BTC across thousands of locations in the U.S.

“MoneyGram International, Inc., a global leader in cross-border P2P payments and money transfers, and Coinme Inc., the largest licensed cryptocurrency cash exchange in the U.S., today announced the launch of a new partnership to enable the cash funding and payout of digital currency purchases and sales,” the payments giant announced in a press release.

The partnership is aimed at giving easy access to Bitcoin especially for first-time crypto investors who might prefer to use cash. Under the set-up, U.S. customers will be able to buy crypto with cash or sell their BTC through MoneyGram’s brick-and-mortar locations across the country.

“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,” the company explained. “It is specially designed for customers who may be interested in utilizing bitcoin for the first time.”

The company noted that there are only less than 20,000 crypto kiosks in the world. MoneyGram and Coinme’s collaboration world drastically increase access to Bitcoin with thousands of new point-of-sale locations.

The new service will be available in the coming weeks at 12,000 MoneyGram locations across the U.S., according to Bitcoin.com. While the company will initially support only BTC, there are already plans to introduce more cryptos in the future. The partnership also plans to expand internationally be the second half of 2021.

“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,” MoneyGram Chairman and CEO Alex Holmes said. “Our unique, global network is an incredibly valuable asset, and we're excited to open our platform to Coinme as we increasingly look to capture new growth by monetizing our network to new use-cases.”

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