MoneyGram International, Inc. (NASDAQ : MGI), today announced that it has made a strategic minority investor in Coinme, the leading U.S. cryptocurrency cash exchange. This venture, which gives the Company an approximate 4% ownership stake in Coinme, closes out Coinme’s Series A financing round and provides MoneyGram with a direct ownership position in one of the first and fastest growing cryptocurrency companies in the world.

MoneyGram continues to believe in the huge opportunities available in cryptocurrency. We are confident that we can operate as an open-source bridge between digital assets and local fiat currencies. We are pleased to invest in Coinme, which strengthens our partnership. It also supports our common vision of expanding access to digital assets.
Alex Holmes is the MoneyGram Chairman & CEO.

“In May 2020, Coinme announced a unique cash-tobitcoin exchange that opened up our business to a new segment of customers. This was a great success story. Partnerships with startups like Coinme, which will help us accelerate our innovation efforts in blockchain and related technologies, will strengthen our position as an industry leader.
MoneyGram’s original partnership with Coinme was announced in May 2021. The goal of the collaboration is to establish a crypto-to cash model. Coinme will build a bridge that connects bitcoin to fiat currencies. By creating new locations at point-of sale to purchase and sell bitcoin, the partnership expanded accessibility to bitcoin. MoneyGram, Coinme and others have other initiatives that will continue to grow the partnership’s value.

“This is an extraordinary opportunity for us to keep our strong growth, and continue building on our top-ranking position in crypto.”
said Neil Bergquist, Coinme CEO.

MoneyGram’s infrastructure and global network will enable us to grow and expand internationally. MoneyGram’s strategic partnership with the Company and its continued investment in it will be a great help.
Coinme was started in 2014. The company currently serves 48 states. Plans to expand international in the near future. Coinme, a Deloitte Technology Fast 500 Winner in November 2021 was named the 78th fastest-growing technology company in North America.

Holmes’ conclusion:

We are delighted to grow our partnership with Coinme and will continue supporting our growth strategy through strong financial upside.

EMAIL NEWSLETTER

Get the other side of crypto!

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
With just one click, you can unsubscribe at any time.

Continue reading on DailyCoin