Bitcoin ATM manufacturer Coinme has got some additional firepower from XRP to increase its footprint around the globe. The company announced recently that it has secured $1.5 million in funding from Ripple’s Xpring and Blockchain Finance Fund.
These funds will be used to expand the size of its ATM network.
It is a significant development in the life of this iconic cryptocurrency startup. With 2,600 crypto ATMs in its hometown US alone, Coinme is a leader in this field. It has got licenses to operate in 29 states of the US, and it plans to apply for licenses of other states too in the near future.
As far as international expansion is concerned, Coinme has its eyes set on the European market. Central America and South America are also on its radar, given the high usage of cryptocurrencies in these regions. Coinme CEO Neil Bergquist made it clear that armed with this funding, he now has his eyes set on the global crypto scene. He said:
“We are bolstered by this vote of confidence by Ripple and Blockchain Finance Fund in our vision and the exciting opportunity to provide access to digital currencies for millions of people around the world. Coinme is building the infrastructure that powers the rapidly growing digital currency economy. We can now bring that infrastructure to a global audience.”
Many of Coinme’s ATMs are in partnership with coin-to-cash kiosk operator Coinstar. The two companies inked a partnership earlier this year in January, and as part of that partnership Coinstar kiosks were integrated with the functionality of Coinme ATMs as well. These kiosks can today be used to redeem crypto worth up to $2,500.
At the moment Coinme ATMs allow people to transact in Bitcoins only. However, now when they’ve got the money of Ripple, the day when they also allow transacting in XRP doesn’t seem too far. Let’s see when does it happen!
The post Crypto ATM Maker Coinme Gets $1.5 Million from Ripple to Expand Globally appeared first on LuvCrypto.
via LuvCrypto
No comments:
Post a Comment