Moneygram Invests in Crypto ATM Operator — CEO Bullish on Opportunities Crypto Offers – Finance Bitcoin News

Moneygram has completed an investment in cryptocurrency ATM operator Coinme. “At Moneygram, we remain optimistic about the vast opportunities that exist in the ever-growing world of cryptocurrencies,” said the CEO.

Moneygram invests in crypto company Coinme

Moneygram International Inc. (NASDAQ: MGI) announced Wednesday that the company “has completed a strategic minority investment in Coinme, a leading US cryptocurrency cash exchange.” This company gives Moneygram an approximate 4% ownership stake in Coinme.

Alex Holmes, President and CEO of Moneygram, commented:

At Moneygram, we remain optimistic about the vast opportunities that exist in the ever-growing world of cryptocurrencies and our ability to operate as a compatible bridge to connect digital assets to local fiat currency.

Moneygram’s investment will support Coinme’s international expansion plans and other growth initiatives.

Founded in 2014, Coinme currently operates in 48 states with plans to expand internationally in the near future. Coinme has partnered with Coinstar, a popular automated service for those who want to convert their fiat currencies to paper cash, to enable the purchase of bitcoins at over 21,000 Coinstar kiosks. Moneygram has served nearly 150 million people around the world over the past five years.

Moneygram and Coinme share a “vision to expand access to digital assets and cryptocurrencies,” the announcement details.

The CEO of Moneygram added:

As we accelerate our innovation efforts, partnerships with startups like Coinme will further our position as an industry leader in utilizing blockchain and similar technologies.

“Our unique cash to bitcoin offering with Coinme, announced in May 2021, opened our business to a whole new customer segment 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 local fiat currency.” The partnership enables Moneygram to allow clients to buy and sell bitcoins at 12,000 locations.

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What do you think of Moneygram getting a 4% stake in Coinme? Let us know in the comment section.

Kevin helms

Austrian economics student Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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