Moneygram is investing in crypto money machine operator-CEO optimistically for crypto chances-finance
Moneygram is investing in crypto money machine operator-CEO optimistically for crypto chances-finance
Moneygram has completed an investment in the cryptocurrency automatal operator Coinme. "At Moneygram we are still optimistic about the enormous possibilities in the constantly growing world of cryptocurrency," said the CEO.
Moneygram invests in the crypto company Coinme
MONEYGRAM International Inc. (Nasdaq: MGI) announced on Wednesday that the company has completed "a strategic minority stake in Coinme, a leading cryptocurrency balance in the USA".
Alex Holmes, chairman and CEO of Moneygram, commented:
At Moneygram, we are still optimistic about the enormous possibilities that exist in the constantly growing world of cryptocurrency, and our ability to act as a compliant bridge to connect digital assets to the local fiat currency.
The Moneygram investment will support the international expansion plans of Coinme and other growth initiatives.
Coinme was founded in 2014 and is currently working in 48 countries and is planning to expand internationally in the near future. Coinme has in partnership with CoinStar, a popular automated service for those who Want to convert fiat coins into paper money in order to enable Bitcoin purchases to over 21,000 Coinstar kiosks. Moneygram has served almost 150 million people all over the world in the past five years.
Moneygram and Coinme share a "vision to expand access to digital assets and cryptocurrencies," says the announcement.
The Moneygram CEO added:
While we accelerate our innovation efforts, partnerships with start-ups like Coinme will strengthen our position as industry leader when using blockchain and similar technologies.
"Our unique cash-to-bitcoin offer with coinme, which was announced in May 2021, has opened our business for a completely new customer segment, and we could not be more satisfied 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 the local fiat currency". The partnership enables Moneygram, buy and sell Bitcoin at 12,000 locations.
What do you think that Moneygram takes over 4% of coinme? Let us know in the comment area below.
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