- MoneyGram acquired a 4% stake in Coinme
- They will jointly develop cross-border payments
- Coinme works in 22 states of the United States and wants to enter the international arena
Payment giant MoneyGram bought 4% of ATM operator Coinme.
This is how MoneyGram CEO Alex commented on the deal Holmes:
“Our company is optimistic about the huge opportunities and growth the cryptocurrency market. MoneyGram can be a bridge that connects digital assets to local fiat currencies. ”
From kiosks to close partnerships
MoneyGram and Coinme have been collaborating since May. Last year, they jointly opened crypto ATMs so American clients could exchange cash for cryptocurrency.
Coinme has now become the largest exchange company in BTC for US dollars. In November, they received an award from Deloitte Technology Fast as the fastest growing company in Washington State. The company now plans to expand outside the United States.
MoneyGram, as well as their strategic investments, will help to quickly enter the international arena, “ – said Coinme CEO Neil Bergqvist.
Paying Giants Race
Large payment services began to work en masse with cryptocurrencies. We have already written that:
Visa bought a large payment service CurrencyCloud
Visa will help banks to implement BTC
Mastercard launches cryptocurrency cards for Asian countries
But some experts believe that traditional payment services will not be able to stay afloat and will lose to WEB 3.