MoneyGram Reveals Minority Investment in Coinme
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MoneyGram, a service for digital peer-to-peer payments, has announced the close of a strategic minority investment in Coinme, a cryptocurrency cash exchange.

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According to a press release, the investment gives MoneyGram about 4% ownership stake in Coinme. MoneyGram CEO, Alex Holmes, says that partnerships with startups like Coinme "will further our position as the industry leader in the utilization of blockchain and similar technologies."

"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," Holmes added.

MoneyGram to Use Stellar's Blockchain and USDC for Settlements

Coinme CEO, Neil Bergquist, noted that the investment will help the exchange accelerate growth and international expansion. It is worth noting that last May, MoneyGram signed a partnership agreement with Coinme to enable the cash funding and payout of cryptocurrency purchases and sales.

A few months later, the Stellar Development Foundation, a non-profit organization founded to support the development of the Stellar ecosystem, was in advanced stages of talks to acquire MoneyGram International. According to reports, Stellar partnered with private equity firm Advent International as part of the initiative. However, no further details have been provided since then.

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