Moneygram has accomplished an funding in cryptocurrency ATM operator Coinme. “At Moneygram, we continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency,” mentioned the CEO.
Moneygram Invests in Crypto Company Coinme
Moneygram International Inc. (NASDAQ: MGI) introduced Wednesday that the corporate “has completed a strategic minority investment in Coinme, a leading cryptocurrency cash exchange in the U.S.” This enterprise offers Moneygram an approximate 4% possession stake in Coinme.
Alex Holmes, Moneygram chairman and CEO, commented:
At Moneygram, we proceed to be bullish on the huge alternatives that exist in the ever-growing world of cryptocurrency and our skill to function as a compliant bridge to attach digital property to native fiat forex.
The funding by Moneygram will help Coinme’s worldwide enlargement plans and different development initiatives.
Founded in 2014, Coinme presently operates in 48 states with plans to increase internationally in the close to future. Coinme has partnered with Coinstar, a well-liked automated service for many who need to flip their fiat coins into paper money, to allow bitcoin buy at over 21,000 Coinstar kiosks. Moneygram serves almost 150 million individuals around the globe during the last 5 years.
Moneygram and Coinme share a “vision to expand access to digital assets and cryptocurrencies,” the announcement particulars.
The Moneygram CEO added:
As we speed up our innovation efforts, partnerships with startups like Coinme will additional our place because the trade chief in the utilization of blockchain and related applied sciences.
“Our unique cash-to-bitcoin offering with Coinme, announced in May of 2021, opened our business to an entirely new customer segment, and we couldn’t be more pleased with our progress,” he continued.
Moneygram introduced in May that the 2 firms plan “to create a crypto-to-cash model by building a bridge to connect bitcoin to local fiat currency.” The partnership permits Moneygram to let clients purchase and promote bitcoin at 12,000 places.
What do you concentrate on Moneygram taking a 4% stake in Coinme? Let us know in the feedback part under.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational functions solely. It shouldn’t be a direct provide or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss brought on or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or companies talked about in this text.