Money transfer service MoneyGram has made a strategic investment in crypto-cash exchange firm Coinme, giving an approximate 4 percent ownership stake in the company. The move comes after the former recently closed the exchange’s Series A funding round.
<h2><strong>MoneyGram Acquires Stake in Licensed Crypto ATM Operator</strong></h2>
According to a <a href="https://ir.moneygram.com/news-releases/news-release-details/moneygram-announces-minority-investment-coinme-largest-licensed" target="_blank" rel="nofollow noopener">press release</a> published Wednesday, <a href="https://www.cryptoknowmics.com/news/moneygram-customers-will-soon-be-able-to-convert-their-cash-to-usdc/">MoneyGram</a> purchased a roughly 4 percent ownership stake in Coinme following a partnership in May 2021 that would allow customers to buy and sell bitcoin for cash at 12,000 US retail locations. The two companies are also working together on additional initiatives, as per the announcement release.
<blockquote><em>"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. 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."</em> said Alex Holmes, MoneyGram chairman and CEO in the announcement release.</blockquote>
Following the partnership, MoneyGram users in America are now able to exchange their cryptocurrencies for cash at point-of-sale outlets. The cryptocurrency cash exchange has over 23,000 ATM locations in the United States, including MoneyGram and Coinstar.

Founded in 2014, Coinme was the first licensed ATM company in the United States and is currently operating in 48 US states, with plans for global expansion. As a Deloitte Technology Fast 500 winner, it was recently named the fastest-growing company in Washington State and the 78th in North America.
<blockquote><em>"With MoneyGram's global network and infrastructure, both the Company's continued partnership and strategic investment will help us accelerate our growth and international expansion,</em>" Neil Bergquist, Coinme CEO added.</blockquote>

MoneyGram Buys Minority Stake in Crypto ATM Operator Coinme

Money transfer service MoneyGram has made a strategic investment in crypto cash exchange firm Coinme, giving an approximate 4% ownership stake.

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MoneyGram Buys Minority Stake in Crypto ATM Operator Coinme

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