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,” stated 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 provides 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 means to function as a compliant bridge to attach digital belongings to native fiat foreign money.
The funding by Moneygram will help Coinme’s worldwide growth plans and different development initiatives.
Founded in 2014, Coinme at present operates in 48 states with plans to broaden internationally in the close to future. Coinme has partnered with Coinstar, a preferred automated service for many who need to flip their fiat cash into paper money, to allow bitcoin buy at over 21,000 Coinstar kiosks. Moneygram serves almost 150 million individuals all over the world 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 business chief in the utilization of blockchain and comparable 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 prospects purchase and promote bitcoin at 12,000 areas.
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 is just not a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any injury or loss induced or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or providers talked about in this text.