2021 may be remembered as the year of cryptocurrencies. The bull run of 2021 resulted in a cryptocurrency adoption at a phenomenal scale. Corporate giants that were otherwise skeptical of cryptocurrencies have incorporated cryptocurrencies in some shape or form. The potential of blockchain technology has been realized by the masses with innovations presenting the real-world use cases of the technology and cryptocurrencies.
MoneyGram is taking the next step towards fueling the adoption of cryptocurrencies. The global payment service has announced a strategic partnership with Coinme Inc. – a cryptocurrency exchange and a Bitcoin ATM operator. The partnership will now allow the customers of MoneyGram in the United States to use the retail outlets of MoneyGram for withdrawing their cryptocurrency holdings for cash.
MoneyGram users will also be now able to buy Bitcoin and other cryptocurrencies through its point of sakes at its retail outlets. MoneyGram CEO has regarded the step as a pioneering movement to bridge the gap between cryptocurrencies and fiat currency.
Now with users being able to buy cryptocurrencies from a physical outlet, adoption may be expected to increase. As we are still in phase of shifting towards digitization, people who are wary of the online exchange will now have a way to incorporate cryptocurrency holdings by visiting a physical outlet.
The step also marks another huge development for the cryptocurrency sphere from an institutional viewpoint. Institutional giants have also been widely accepting cryptocurrencies. Payment service behemoths like PayPal, Visa, and Mastercard all have been slowly but gradually becoming more accepting of cryptocurrencies and blockchain technology.