Moneygram has completed an investment in cryptocurrency ATM operator Coinme. “At Moneygram, we remain optimistic about the enormous opportunities in the ever-growing world of cryptocurrency,” said the CEO.
Moneygram invests in the crypto company Coinme
Moneygram International Inc. (NASDAQ: MGI) announced on Wednesday that the company has completed “a strategic minority stake in Coinme, a leading cryptocurrency cash exchange in the United States.”
Alex Holmes, Chairman and CEO of Moneygram, commented:
At Moneygram, we remain optimistic about the tremendous opportunities that exist in the ever-expanding world of cryptocurrency and our ability to act as a compliant bridge to connect digital assets to the local fiat currency.
Moneygram’s investment will support Coinme’s international expansion plans and other growth initiatives.
Coinme was founded in 2014 and currently operates in 48 states and plans to expand internationally in the near future. Coinme has partnered with Coinstar, a popular automated service for those looking to convert their fiat coins into paper money, to enable Bitcoin purchases at over 21,000 Coinstar kiosks. Moneygram has served nearly 150 million people around the world in the past five years.
Moneygram and Coinme share a “vision to expand access to digital assets and cryptocurrencies,” the announcement said.
The Moneygram CEO added:
As we accelerate our innovation efforts, partnerships with startups like Coinme will strengthen our position as an industry leader in the use of blockchain and related technologies.
“Our unique cash-to-bitcoin offering with Coinme, announced in May 2021, opened our business to a whole new segment of customers and we couldn’t be more pleased with our progress,” he continued.
Moneygram announced in May that the two companies plan to “create a crypto-to-cash model by building a bridge to connect Bitcoin to the local fiat currency”. The partnership enables Moneygram to have customers buy and sell Bitcoin in 12,000 locations.
Tags in this story
Buy Bitcoin at MoneyGram, Buy Crypto, Buy Cryptocurrency, Coinme, Coinme Bitcoin, Coinme Cryptocurrency, MoneyGram, Moneygram Bitcoin, MoneyGram Coinme, Moneygram Crypto, Moneygram Cryptocurrency, Moneygram Partnership
What do you think of Moneygram taking a 4% stake in Coinme? Let us know in the comment section below.
Kevin Helms
Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
