Moneygram Invests in Crypto ATM Operator — CEO Bullish on Opportunities Crypto Offers

Moneygram Invests in Crypto ATM Operator — CEO Bullish on Opportunities Crypto Offers Moneygram has completed an investment 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,” 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, Moneygram chairman and CEO, commented: At Moneygram, we continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency and our ability to operate as a compliant bridge to connect digital assets to local fiat currency. The investment by Moneygram 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 turn their fiat coins into paper cash, to enable bitcoin purchase at over 21,000 Coinstar kiosks. Moneygram serves nearly 150 million people around the world over the last five years. Moneygram and Coinme share a “vision to expand access to digital assets and cryptocurrencies,” the announcement details. The Moneygram CEO added: As we accelerate our innovation efforts, partnerships with startups like Coinme will further our position as the industry leader in the utilization of blockchain and 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. 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 about Moneygram taking a 4% stake in Coinme? Let us know in the comments section below. Kevin Helms A student of Austrian Economics, 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 between economics and cryptography. Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: 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 of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.