The decision by peer-to-peer payments company, MoneyGram, to allow users in the United States to buy and sell Litecoin (LTC) and other cryptocurrencies may cause Litecoin’s share price to go x10, some say.
The news was announced last Wednesday, when the company said that “cryptocurrencies add value to everything we do at MoneyGram.” and that users in the United States can now trade LTC.
Besides Litecoin, MoneyGram also allows users to trade and invest in Bitcoin (BTC) and Ethereum (ETH). Yet Litecoin has a much smaller market cap than the other 2 cryptocurrencies, which is why the news caused a bigger reaction for LTC.
After the news was announced, LTC’s share price soared, along with the coin’s trading volume. This Thursday, the price was around $61, up 2.9% in the past 24 hours.
MoneyGram as a “bridge” To Crypto
In the past, MoneyGram has already said that sometime in the future, trading with stablecoins will be made possible. The company’s CEO Alex Holmes announced stablecoin plans in May 2022, as a result of its partnership with the Stellar (XLM) blockchain.
“The world of crypto and the world of cash, don’t mix well today. That’s why we are building a bridge between crypto and cash,” Holmes said at the time.
Besides Litecoin, there are many other crypto currencies that stand a chance of steep rises in the near future. For instance, take a look at new crypto coins like Dash 2 Trade and IMPT. These are two presales that are currently busy crypto-currencies with a very innovative platform behind them.