International digital peer-to-peer payments entity MoneyGram is reportedly releasing supporting features for crypto buying, selling and holding. 

Specifically, the freshly introduced functionalities will reportedly be focusing on Bitcoin and Litecoin through its MoneyGram mobile app, rolled out to almost every U.S. state and the District of Columbia. 

The digital payments firm further shared details of its plans to include extra digital currencies to its app in 2023, with greenlights provided by global regulations.

“As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services thanks to our global network, leading compliance solutions, and strong culture of fintech innovation.” Alex Holmes, Chairman and current Head of MoneyGram, additionally remarked.

The introduction of this most recent crypto-associated project is included within the scope of the firm;s vision to amplify adoption, via bringing “real-world cryptocurrency and blockchain use cases to life.” 

MoneyGram additionally revealed that this crypto addition to its app became a reality thanks to its alliance with licensed crypto exchange and API-driven crypto-as-a-service provider, Coinme.

Regardless of bearish movements across the crypto market with no clear end foreseeable, a few establishments seem to be putting in the groundwork to widen their reach in the crypto sphere. 

Previously On Oct. 25, Western Union reportedly submitted the filing for three trademarks that covered managing digital wallets, exchanging digital assets and commodities derivatives, issuing tokens of value, and brokerage and insurance services.

In the same month, the mobile payment processing app Cash App released facilitating features for transactions through the Bitcoin Lightning Network. 

The new feature is set to allow Cash App users to send and receive Bitcoin on the faster, more efficient layer-2 protocol.