Money transfer network MoneyGram has announced that it has purchased an investment stake in CoinMe; So that it can operate ATMs for cryptocurrency.
The company said on Wednesday that the stake in Coinmee was acquired by about 4%, or more than $764,000, given its $19.1 million valuation. Last June.
Coin Telegraph indicated that the purchase of the said stake is part of MoneyGram's strategic investment in the cryptocurrency company.
This investment follows a May 2021 partnership between the two companies aimed at expanding access to cryptocurrency exchanges.
Currently, MoneyGram users in the US can exchange Bitcoin (BTC) and crypto holdings for cash at outlets.
Coinme's website lists more than 23,000 ATM locations in the United States, including MoneyGram and CoinStar.
