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MoneyGram Invests in Bitcoin Kiosk Operator Coinme

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  • MoneyGram has acquired a 4% stake in Coinme.
  • The cash transferring firm mentioned the funding will assist the bitcoin-to-cash alternate’s development plans.
  • Coinme presently operates in 48 U.S. states and goals to broaden internationally.

Remittances big MoneyGram has acquired a minority stake (4%) in bitcoin-to-cash alternate Coinme, in line with a Wednesday press launch. The funding closes Coinme’s sequence A financing spherical with the purpose to propel its worldwide enlargement plans and assist MoneyGram bridge the bitcoin and fiat worlds.

“At MoneyGram, we proceed to be bullish on the huge alternatives that exist within the ever-growing world of cryptocurrency and our skill to function as a compliant bridge to attach digital belongings to native fiat forex,” MoneyGram chairman and CEO, Alex Holmes, mentioned in an announcement. “Our funding in Coinme additional strengthens our partnership and compliments our shared imaginative and prescient to broaden entry to digital belongings and cryptocurrencies.”

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