Ripple's investment initiative Xpring in cooperation with Blockchain Finance Fund has invested $1.5 million in Coinme, cryptocurrency kiosks and blockchain financial services company.
According to the official press release, Coinme plans on using raised investments to significantly expand its services. The company will reportedly obtain licenses "to operate nationwide in the U.S. and expand to key international markets."
Neil Bergquist, Сo-Founder and CEO of Coinme, says they are bolstered by this vote of confidence by Ripple and Blockchain Finance Fund in Coinme's vision.
"Coinme is paving the way for mainstream adoption of digital currencies – making it easy for everyone to access cryptocurrencies and use them for payments and cash-based remittances," said Ethan Beard, a Senior Vice President at Ripple.
Earlier iHodl reported that Xpring issued a report according to which, the initiative committed $500 million in support of over 20 companies, ranging from independent developer projects to larger-scale partnerships.
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