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 help the bitcoin-to-cash trade’s progress plans.
  • Coinme at present operates in 48 U.S. states and goals to increase internationally.

Remittances large MoneyGram has acquired a minority stake (4%) in bitcoin-to-cash trade Coinme, in response to a Wednesday press release. The funding closes Coinme’s collection A financing spherical with the intention 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 property to native fiat forex,” MoneyGram chairman and CEO, Alex Holmes, mentioned in a press release. “Our funding in Coinme additional strengthens our partnership and compliments our shared imaginative and prescient to increase entry to digital property and cryptocurrencies.”

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