TL;DR Breakdown
- MoneyGram has revealed the building of a remittance system between it and Coinme to support the transfer of BTC to fiat.
- The project will promote Coinme in its future expansion plans.
MoneyGram International Incorporation has revealed the completion of a minority investment project in Coinme. They have revealed that the venture will give them a 4% stake in Coinme- one of the largest and most promising crypto organizations worldwide.
They also added that this partnership with the most significant and licensed crypto exchange in the US would signal the end of Coinme’s Serie A finance seeding round.
MoneyGram continues pursuing cryptos by investing in Coinme
MoneyGram first announced their initial agreement for a joint effort with Coinme last year. They explained that the collaborative effort would help the two organizations to create a remittance system that serves BTC and fiat users. The project would also expand BTC access by introducing sale locations in thousands. The two organizations also have other unrevealed plans to achieve through their union.
According to MoneyGram CEO Alex Holmes, MoneyGram is bullish on cryptocurrencies’ opportunities. He added that they plan to lend their hand by developing a connection between cryptos and fiat currency.
Regarding the company’s investment in Coinme, the 4% stake helps create a necessary bond between the organizations and their plans of connecting fiat and cryptos. He also said that their announcement of the partnership with Coinme last year gave MoneyGram a new set of customers.
Additionally, Holmes summarized that the financial institution would continue pursuing partnerships with crypto organizations like Coinme. These joint efforts will help propel them to be leaders in applying crypto and blockchain-like technologies.
Per the CEO of Coinme, Neil Bergquist, their union with MoneyGram gives Coinme a chance to continue leading in the provision of crypto services. He noted that the resources from MoneyGram will help Coinme grow and expand at a faster rate to reach international levels.
More about MoneyGram, Coinme, and their partnership
Coinme is an American crypto exchange that launched in 2014. Currently, it is licensed to serve 48 states, but it has also revealed plans to go international someday. The exchange was selected as Deloitte Technology Fast 500 winner in November last year and the 78th fastest expanding tech corporation of North America.
MoneyGram is a significant remittances organization that promotes the transition to digital p2p remittances systems. The corporation has added 150 million more customers over the last five years due to its dream of connecting fiat and the crypto world.
The payments company uses its digital mobile and API-powered platform to collaborate with leading organizations to serve clients with its MoneyGram Online systems (MGO). MGO offers P2Pdigital remittances, global interconnectivity, and finance business services for enterprises.
The new union between these organizations will likely leave a significant mark in the world’s financial landscape since they have aligned dreams. The companies are also determined to help improve digital payments, making them a force to reckon with. According to Holmes, this partnership will push the corporations to be financial leaders.
