It's an eventuality that these remittance companies will have to adapt to the new crypto landscape.
There will be, in a couple of years time, virtually no business flowing their way if they stick with the old 3-5 business day transfer model. And inevitably they would either have to focus more on developing products to support the crypto ecosystem, or adopt blockchain technology themselves to settle transactions on a real time basis.
I personally don't really see any benefit in using them per se, though. If you want cash for your cryptos you can always go to LBC instead for a faster deal that probably has less fees (or even negative fees if you put up the listing yourself).
Topic: MoneyGram to let cryptocurrency holders cash in their investments (Read 101 times)
MoneyGram is not new to cryptocurrency having been connected with Ripple and XRP before and so its new service for cryptocurrency holders is not anymore a big surprise...in fact I would consider the decision to be a little late considering that many other entities involved with money transfers are already into cryptocurrency. At any rate, this is still good news and one of the many new manifestations that we are slowly getting into mainstream adoption. Hopefully, there will be seamless integration between the world of fiat money and cryptocurrency so that funds can move freely as it should be on a global scale.
I remember there was news to it. This is almost like the kind of PayPal, they'd be obsolete if they don't adopt cryptocurrency actually. If they don't join the crypto craze, they'd lose relevance to their existence and Paypal had realized this the first. Other payment systems and digital cash systems I think should just be adopting crypto. Westernunion will follow it's just a matter of time that local remittances will also do the same.
I thought they enabled the services globally, US citizens can enjoy the service at the moment and these kind of adoption would be great if these big companies allows these services on a global basis. It is good to see more companies getting involved in BTCitcoin and i think the adoption by PayPal and MasterCard might have triggered the rest of the financial service companies to seriously think about BTCitcoin adoption.
I am now waiting Western Union to be the next to accept withdraws with Bitcoin through some exchange.They are the eternal rivals of money transfer in the world so I expect such move.The news of Moneygram is good news for Bitcoin as the more exposure the better for us.
Yeah.They're really the affected companies due to the crypto transfers that became common and known lately. Just like the other financial companies, they've come to realize that they can't beat bitcoin.
Soon, they'll join.
A thread on this already exists here is the link
https://bitcointalksearch.org/topic/m.57001740
https://bitcointalksearch.org/topic/m.57001740
It's business, I guess if there's an opportunity, maybe all money transfer company would really want to partner on those crypto local exchanges on the country they're based for options of deposit/investments for them to collect fees and benefit from it.
I am now waiting Western Union to be the next to accept withdraws with Bitcoin through some exchange.They are the eternal rivals of money transfer in the world so I expect such move.The news of Moneygram is good news for Bitcoin as the more exposure the better for us.
MoneyGram is not new to cryptocurrency having been connected with Ripple and XRP before and so its new service for cryptocurrency holders is not anymore a big surprise...in fact I would consider the decision to be a little late considering that many other entities involved with money transfers are already into cryptocurrency. At any rate, this is still good news and one of the many new manifestations that we are slowly getting into mainstream adoption. Hopefully, there will be seamless integration between the world of fiat money and cryptocurrency so that funds can move freely as it should be on a global scale.
MoneyGram has teamed up with cryptocurrency exchange Coinme on a feature that lets people buy crypto with cash or withdraw it from brick-and-mortar locations in the U.S.
Google it. I can't post the CNBC link.
Ok here's the link so that others can read it: https://www.cnbc.com/2021/05/12/moneygram-to-let-cryptocurrency-traders-cash-in-their-investments.htmlGoogle it. I can't post the CNBC link.
So everyone is really on the bandwagon, so I would say that this is another good news indeed. It might not have an immediate effect on the price as it just started and it's only in US. But Moneygram has plans to expand it globally in the future so another win-win for crypto enthusiast around the world.
MoneyGram has teamed up with cryptocurrency exchange Coinme on a feature that lets people buy crypto with cash or withdraw it from brick-and-mortar locations in the U.S.
Google it. I can't post the CNBC link.
Google it. I can't post the CNBC link.
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