One of the largest international money transfer services MoneyGram will allow buying and cashing out cryptocurrency in its branches in the United States. To do this, the company has signed a partnership agreement with cryptocurrency exchange platform and crypto machine operator Coinme. According to MoneyGram CEO Alex Holmes, the company was the first in the world to implement a model for converting cryptocurrency into cash.
MoneyGram had already partnered with blockchain company Ripple in 2018 to use the XRP token in cross-border payments. However, their partnership was cut short late last year after the U.S. Securities and Exchange Commission (SEC) accused Ripple of selling $1.3 billion in unregistered securities in the form of XRP tokens.