Payment operator MoneyGram has become a minority shareholder in crypto ATM operator Coinme.
According to MoneyGram, the company’s investment policy is a continuation of the strategic partnership with cryptocurrency exchange Coinme, which the parties announced in May 2021. The integration of MoneyGram and Coinme will provide customers with a quick and easy way to conduct foreign exchange transactions, buy BTC for cash and withdraw money back to fiat.
The parties do not disclose the actual amount of the transaction, but based on the acquired 4% stake declared by MoneyGram, it can be assumed that Coinme has attracted investments in the amount of about $ 800,000.
Alex Holmes, Chairman and CEO of MoneyGram, said:
“We are optimistic about the tremendous opportunities that exist in the ever-growing cryptocurrency world and our ability to act as an effective intermediary between digital assets and fiat currencies. Moneygram’s investment will support Coinme’s growth initiatives and plans for international expansion. ”
MoneyGram customers can buy and sell bitcoins for 20,000 cash at points of sale. Coinme’s website lists over 23,000 ATMs in the US, including MoneyGram and Coinstar machines.
In early November 2021, Bitcoin Latinum announced its participation in the project to expand the crypto ATM network in the United States, which entered into a partnership with the crypto ATM operator OSO ATMs. As part of the cooperation, the companies plan to install about 100,000 devices in 50 US states.
