MoneyGram Takes Minority Stake in U.S. Cryptocurrency Cash Exchange
05 Janeiro 2022 - 2:34PM
Dow Jones News
By Kimberly Chin
MoneyGram International Inc. said it has made a minority
investment in Coinme, a licensed U.S. cryptocurrency cash exchange,
providing support for the exchange's international plans and growth
initiatives.
The investment gives Moneygram a roughly 4% stake in the company
and closes out Coinme's Series A financing round, the company said.
MoneyGram didn't disclose how much it invested.
"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 Chief Executive Alex Holmes
said in prepared remarks.
The cross-border digital payments platform and Coinme struck a
partnership last May that gave customers access to thousands of
point-of-sale locations in the U.S. where they could buy and sell
bitcoin.
Founded in 2014, Coinme operates in 48 states and has plans to
expand internationally in the near future.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
January 05, 2022 12:19 ET (17:19 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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