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Moneygram makes a strategic investment in a cryptocurrency ATM operator

Moneygram International Inc. (NASDAQ: MGI) said on Wednesday that it has made a “strategic minority investment in Coinme, a major cryptocurrency cash exchange in the United States.” Moneygram will own about 4% of Coinme as a result of this partnership.

Moneygram’s chairman and CEO, Alex Holmes, said:

“At Moneygram, we continue to be bullish on the vast opportunities that exist in the…”
“ever-growing world of cryptocurrency and our ability to operate as a compliant bridge..”
“to connect digital assets to local fiat currency.”

More so, Coinme’s worldwide expansion goals and other growth activities will be aided by Moneygram’s funding.

Then, Coinme, which was founded in 2014, already has a presence in 48 states and wants to expand internationally in the near future. So, it has teamed with Coinstar, a popular automated service for converting fiat currencies into paper money, to make bitcoin purchase possible at over 21,000 Coinstar kiosks. Also, Over the previous five years, Moneygram has served approximately 150 million customers all over the world.

Then, According to the release, Moneygram and Coinme have a “vision to extend access to digital assets and cryptocurrencies.”

So, The Moneygram CEO adds

“As we accelerate our innovation efforts, partnerships with startups like Coinme will..”
“further our position as the industry leader in the utilization of blockchain and similar technologies.”

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

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