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

Moneygram completed its investment in Coinme cryptocurrency ATM operator. “At Moneygram, we continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency,” 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 cryptocurrency cash exchange in the U.S.” This venture gives Moneygram an approximate 4% ownership stake in Coinme.

Alex Holmes, CEO and chairman of Moneygram, said:

Moneygram continues to believe in the huge opportunities available in the growing world of cryptocurrency. Moneygram is able to act as an open-source bridge that connects digital assets with local fiat currency.

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

Coinme, which was established in 2014 in 48 states, plans to grow internationally. Coinstar is a trusted automated service that allows you to convert fiat currency into cash. Coinme partners with Coinstar to allow bitcoin purchases at more than 21,000 Coinstar kiosks. Moneygram is used daily by more than 150 million individuals around the globe.

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

Moneygram’s CEO said:

We will be accelerating our innovation efforts by forming partnerships with startups such as Coinme to further strengthen our position in the market for the use of blockchain and other similar technologies.

“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 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 allows Moneygram to let customers buy and sell bitcoin at 12,000 locations.

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You think Moneygram should take a 4% interest in Coinme. Please comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.

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