The noncustodial wallet will continue MoneyGram’s remittance focus, allowing users to easily convert their digital assets to fiat.
Stellar dips into treasury to buy minority stake in MoneyGram
The financial details weren’t disclosed, but the investment gave the Stellar Development Foundation a seat on MoneyGram’s board of directors.
Crypto Payments Specialist Stellar Bridges Fiat and Stablecoins to Polkadot
Litecoin eyes $100 after ‘rare’ LTC price breakout
MoneyGram’s decision to integrate Litecoin into its crypto services and the coin’s upcoming halving event has served as catalysts behind LTC’s price rally.
Crypto Biz: Was Celsius just a Ponzi after all?
The bankrupt crypto lender has been accused by customers of being a Ponzi. Meanwhile, Binance’s $500 million investment in Elon Musk’s Twitter has been confirmed.
Litecoin Price Soars After DOGE Marks Historic Growth
Santiment reported that Litecoin is temporarily decoupled from the crypto pack. Furthermore, whale addresses with over 1,000 LTC increased rapidly from the middle of June. The LTC/BTC pair gained over 51% since June 12.
Memecoins have been in the limelight since last week after Musk Completed the Twitter acquisition. Among the memecoins, Dogecoin had the best performance, soaring above 100% in the price rally to $0.15, a five-month all-time high. But, Dogecoin has currently dropped to $0.1188.
However, another altcoin, Litecoin, picked up, taking the market limelight from DOGE. Price analysis shows that Litecoin (LTC) increased by nearly 15% in the last 24 hours to almost $63. Currently, LTC is trading at $62.77, a 13.61% increase with a market cap of $4.4 billion.
Following on-chain reports, there was a steady increase in LTC whale addresses since May, after the crypto market correction. More so, according to data from Santiment, LTC/BTC trading pairs have gained 25% in the past five months.
What Influenced Litecoin Price Boost?
Over the years, cryptocurrencies have evolved in adoption and use cases. Significant events and institutional adoptions influence the price actions of digital assets, and Litecoin is not an exception.
Litecoin’s performance could be due to the latest development in the crypto space. Recently, MoneyGram listed the token as one of the cryptocurrencies its US and Columbian consumers can trade and hold on its mobile platform.
Given that MoneyGram has a significant dominance in the global remittance service industry, the listing of LTC might have constituted a boost. Charlie Lee, the founder of Litecoin, shared the news on his Twitter handle. He revealed his excitement over the fact that users can buy Litecoin on the MoneyGram platform and thanked Coinme for making it possible. The LTC founder added that LTC is still alive as a note to haters.
LTC Performance Out Look And BTC Comparison
According to analytics, the $64 mark may be Litecoin’s resistance level. A break above $64 may result in a further upwards rally. Litecoin has recovered all its three-month losses with the recent gain.
LTC has maintained the third rank by market cap for a long time. Active for nine years, LTC has been successful, except for the advent of bear markets.
According to the 2022 price prediction for Litecoin, the minimum cost of the token is $57.16, and the maximum level is $62.79. The expected average trading price is around $59.38. But LTC has managed to surpass these levels.
Comparing LTC performance with Bitcoin’s, the latter currently has a market cap above $389 billion, while the former has over $4.413 billion. Meanwhile, Bitcoin is down by 0.86% in the last 24 hours, trading above $20,000.
featured Image from Pixabay, Charts by TradingView
Moneygram to enable users to buy, sell and hold cryptocurrency via mobile app
According to the company, users within select regions can now trade and store Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
MoneyGram’s USDC transfer service launches in several countries
The payment service, which is powered by the Stellar blockchain, will enable USDC settlement with MoneyGram in “near-real-time.”
MoneyGram to open transfer platform with Stellar, eyes wallet deal in El Salvador
MoneyGram CEO Alex Holmes said the international remittances stalwart wants to be a bridge between the crypto and fiat worlds.
Moneygram buys 4% stake in crypto ATM operator Coinme
The investment follows a May 2021 partnership between the two firms aimed at expanding access to crypto-fiat exchanges.
MoneyGram launches USDC settlement using the Stellar blockchain
The partnership will enable MoneyGram customers to fund and withdraw from their accounts using the USDC stablecoin at physical branches.
MoneyGram Supporting Retail Bitcoin Buying In US
In partnership with Coinme, MoneyGram has announced today their intent to accept buying and selling of Bitcoin at over 12,000 US locations. The announcement also included the intent to expand support for Bitcoin internationally by the back half of 2021.
MoneyGram & Coinme Partnership
MoneyGram is a long-time global payments operator citing nearly 150M consumers over the past five years. Coinme is a licensed crypto exchange that also operates over 20,000 physical ATMs. The goal of the collaboration is to “bring Bitcoin to thousands of new point-of-sale locations in the U.S.” in the near term.
The partnership press release also cited the company’s intent to create “global cash on and off-ramps” to “ensure access to Bitcoin”. MoneyGram CEO Alex Holmes added that the “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”.
Related Reading | Real Adoption: How Will Mastercard’s Crypto Acceptance Affect Bitcoin Price?
The Rollout
MoneyGram and Coinme emphasized that having a service rollout that is “specifically designed for customers who may be interested in utilizing Bitcoin for the first time” was top of mind. Over the course of the next few weeks, the firms will start making transactions available throughout the 12,000 MoneyGram locations. The full rollout is anticipated to scale out over 20,000 US locations and be “fully operational in the coming weeks”.
The partnership follows a number of major financial services companies ingraining crypto transactions into their day-to-day operations. CashApp has added Bitcoin transaction support, Venmo announced last month that they intend to support crypto purchases and sales, and Mastercard intends to offer support for customers cryptocurrency transactions later this year. Other fintech and tech-forward companies, such as Square and Tesla, have also added Bitcoin to their balance sheet in recent months.
Coinme also has a partnership in place with Coinstar that enables crypto transactions at Coinstar kiosks throughout 6,000+ locations in the US.
Accessibility to BTC has been a focal point for many companies. | Source: BTC-USD on TradingView.com
MoneyGram & Crypto
This isn’t the first time MoneyGram has worked to ingrain their business in the broader cryptocurrency landscape. The company had previously formulated a partnership with US-based crypto, Ripple (XRP). The partnership came to a mutually-agreeable ending in March, though the companies reiterated a commitment “to revisiting our relationship in the future”. The partnership termination came shortly after reports of an SEC-filed lawsuit against Ripple, for engaging in an unregistered securities offering through XRP transactions as early as 2013. The deal included Ripple paying transaction fees for MoneyGram using the XRP token in international settlement deals.
MoneyGram is a Dallas, TX based firm publicly traded on the NASDAQ ($MGI).
Related Reading | Ripple Presses On Despite Losing MoneyGram Partnership, Will XRP React?
Featured image from Pixabay, Charts from TradingView.com
MoneyGram to allow retail Bitcoin buying in the US
MoneyGram customers in the United States will soon be able to buy Bitcoin in the country’s retail outlets across the country.
MoneyGram Takes Wait-and-See Approach as SEC Sues Partner Ripple
“MoneyGram will continue to monitor the situation” following an SEC lawsuit against its part-owner, Ripple, a spokesperson told CoinDesk.
Ripple Is Cashing Out a Third of Its Stake in Surging MoneyGram
It is the first such sale of MoneyGram stock since the startup invested in the remittance giant in 2019.
Ripple Keeps Pumping Funds Into MoneyGram
All in, Ripple has funded the money sender to the tune of over $52 million for providing liquidity to one of its payments products.
Goldman Sachs Sells $6.5m of Shares in Ripple-Partner MoneyGram: SEC Filing
Goldman Sachs and its subsidiaries have sold 9% of their total position in the Ripple-partner MoneyGram – worth approximately $6.5 million.
Ripple Paid MoneyGram $15.1M in ‘Market Development Fees’ in Q2
With the $15.1 million in Q2, MoneyGram has so far received $43 million for providing liquidity for Ripple’s XRP-based settlement system.
MoneyGram Got Another $11M From Ripple to Use Its Cross-Border Payments Tech
Payments firm Ripple has given MoneyGram over $11 million dollars in the past half year, according to regulatory filings with the Securities and Exchange Commission.
Ripple Finalizes $50 Million MoneyGram Investment
Ripple now owns nearly 10 percent of MoneyGram’s outstanding common stock after completing its $50 million equity investment.