MoneyGram Invests in Coinme
Money transfer firm MoneyGram announced in a blog post a few hours ago that it has bought a 4% stake in Coinme.
MoneyGram invested in Coinme via a recently closed Series A funding round. Alex Holmes, MoneyGram's Chairman and CEO, said the company is bullish about the cryptocurrency space.
In May, MoneyGram said it would allow customers to buy and sell bitcoin for cash at 12,000 U.S. retail locations through a partnership with Coinme.
The two companies have additional initiatives planned to boost the value of their pact.