Moneygram Invested In Crypto ATM Operator Coinme

Moneygram invested in the Crypto ATM operator Coinme as it purchased a 4% stake in the company so let’s read more in today’s latest cryptocurrency news.

One of the biggest reasons investors are flocking into crypto is the huge potential the space has. While the institutional investors are dominating the space, it seems they continued to do the same at the start of 2022. The latest institutional investor to enter the crypto space is Moneygram International which invested in crypto AMT operator Coinme.

Moneygram announced that it completed a strategic minority investment in Coinme as the leading US-based crypto-cash exchange. The announcement revealed that the leading cross-border P2P payments company invested with a 4% ownership stake. Coinme is an America-based crypto company that operates in 48 states. The company was the 78^th fastest-growing corporation in North America. Speaking on the investment in Coinme, Moneygram chairman and CEO Alex Holmes noted the company is quite happy about the new opportunities that the evolving crypto industry brought.

In the long run, he thinks that the partnership will also push both companies to become financial leaders in the crypto space. Moneygram invested in the company since it believes in the vast opportunities that exist in the world of crypto and the ability to operate the compliant bridge that can connect crypto to local fiat currency. With the investment, Coinme’s international expansion effort and the growth initiatives will go ahead even harder.
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As for Moneygram, the partnership will enhance its position as the industry leader in terms of blockchain technology.

The two companies partnered to develop the crypto-to-cash model by building a bridge connecting the cryptocurrencies and local fiat currency. Moneygram announced:

“Our unique cash-to-bitcoin offering with Coinme, announced in May of 2021, opened our business to an entirely new customer segment and couldn’t be more pleased with our progress.”

The partnership with Coinme will bolster the international expansion plans and the ATM operator has about 6000 ATMs that are located in Coinstar kiosks in 44 states across the US with goals to expand even further. A crypto ATM is similar in operation to the regular ATM that is used by financial institutions that allow customers to perform certain financial transactions. The biggest difference between both is that the ATMs enable users to buy crypto-assets like DOGE, BTC, and others depending on the digital assets integrated.