DALLAS, Jan. 5, 2022 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI) today announced that the Company
has completed a strategic minority investment in Coinme, a leading
cryptocurrency cash exchange in the U.S. This venture, which gives
the Company an approximate 4% ownership stake in Coinme, closes out
Coinme's Series A financing round and provides MoneyGram with a
direct ownership position in one of the first and fastest growing
cryptocurrency companies in the world.
"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. Our investment in
Coinme further strengthens our partnership and compliments our
shared vision to expand access to digital assets and
cryptocurrencies," said Alex Holmes,
MoneyGram Chairman and CEO. "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
MoneyGram announced its original partnership with Coinme in
May 2021 to create a crypto-to-cash
model by building a bridge to connect bitcoin to local fiat
currency. The partnership further expanded access to bitcoin by
creating thousands of new point-of-sale locations to buy and sell
bitcoin. MoneyGram and Coinme have additional initiatives in the
pipeline that are expected to continue to increase the value of the
"We see this as an incredible opportunity to continue our strong
growth and build on our leading presence in the world of crypto,"
said Neil Bergquist, Coinme CEO.
"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."
Coinme was founded in 2014 and currently operates in 48 states
with plans to expand internationally in the near future. In
November of 2021, Coinme was selected as a Deloitte Technology Fast
500 winner and named the 78th fastest growing technology
company in North America.
Holmes concluded: "We are thrilled to expand our relationship
with Coinme, and this strategic investment will further support our
growth strategy with strong financial upside."
About MoneyGram International, Inc.
leading the evolution of digital P2P payments. With a
purpose-driven strategy to mobilize the movement of money, a strong
culture of fintech innovation, and leading customer-centric
capabilities, MoneyGram has grown to serve nearly 150 million
people around the world over the last five years.
The Company leverages its modern, mobile, and API-driven
platform and collaborates with the world's leading brands to serve
consumers through MoneyGram Online (MGO), its direct-to-consumer
digital business, its global retail network and its emerging
embedded finance business for enterprise customers, MoneyGram as a
For more information, please visit ir.moneygram.com and follow
About Coinme Inc.
Coinme operates a leading licensed
cryptocurrency cash exchange in the U.S., founded in 2014 with a
mission to be the world's most trusted gateway to digital
currencies and a better financial future. Through partnerships with
Coinstar and MoneyGram, Coinme enables thousands of physical
locations in 48 states to facilitate the cash purchase and sale of
bitcoin. The company offers an enterprise-grade API helping to
"crypto-enable" legacy financial systems and a vertically
integrated suite of consumer products providing a simple, trusted
and affordable way to buy, sell, store and manage digital
currencies. For more information, visit www.coinme.com.
MoneyGram Media Contact
Coinme Media Contact
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