Moneygram Invests in Crypto ATM Operator — CEO Bullish on Opportunities Crypto Offers
Moneygram has accomplished an funding in cryptocurrency ATM operator Coinme. “At Moneygram, we proceed to be bullish on the huge alternatives that exist within 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 accomplished a strategic minority funding in Coinme, a number one cryptocurrency money change within 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 within the ever-growing world of cryptocurrency and our potential to function as a compliant bridge to attach digital belongings to native fiat foreign money.
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 develop internationally within 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 folks around the globe during the last 5 years.
Moneygram and Coinme share a “imaginative and prescient to develop entry to digital belongings 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 within the utilization of blockchain and comparable applied sciences.
“Our distinctive cash-to-bitcoin providing with Coinme, introduced in May of 2021, opened our enterprise to a completely new buyer section, and we couldn’t be extra happy with our progress,” he continued.
Moneygram introduced in May that the 2 firms plan “to create a crypto-to-cash mannequin by constructing a bridge to attach bitcoin to native fiat foreign money.” The partnership permits Moneygram to let customers buy and sell bitcoin at 12,000 areas.
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