MoneyGram Invests In Bitcoin Kiosk Operator Coinme Today

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  • MoneyGram has acquired a 4% stake in Coinme.
  • The money transferring company said the investment will support the bitcoin-to-cash exchange’s growth plans.
  • Coinme currently operates in 48 U.S. states and aims to expand internationally.

Remittances giant MoneyGram has acquired a minority stake (4%) in bitcoin-to-cash exchange Coinme, according to a Wednesday press release. The investment closes Coinme’s series A financing round with the aim to propel its international expansion plans and help MoneyGram bridge the bitcoin and fiat worlds.

“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,” MoneyGram chairman and CEO, Alex Holmes, said in a statement. “Our investment in Coinme further strengthens our partnership and compliments our shared vision to expand access to digital assets and cryptocurrencies.”