MoneyGram’s CEO is bullish about the cryptocurrency space after the company’s recent investment.
MoneyGram, one of the leading money transfer companies in the world, acquired a 4% stake in Coinme. Coinme is one of the leading cryptocurrency ATM operators in the world and is present in numerous countries.
MoneyGram’s CEO Alex Holmes said the company is bullish about the cryptocurrency market. Hence, the reason why it has invested in Coinme and wants to expand its presence in the crypto space. He said;
“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.”
The cryptocurrency market has experienced massive growth over the past few years, with the total market cap now around $2 trillion. The market cap reached an all-time high of $3 trillion in November, but the bearish trend has affected the performances of Bitcoin and the other leading cryptocurrencies.
Despite that, Holmes maintained that MoneyGram sees huge potential in the cryptocurrency space over the coming years. The company intends to grow its partnership with Coinme and expand its presence in the crypto space. Holmes added that;
“As we accelerate our innovation efforts, partnerships with startups like Coinme will further our position as the industry leader in the utilization of blockchain and similar technologies.”
The MoneyGram CEO also said;
“Our unique cash-to-bitcoin offering with Coinme, announced in May of 2021, opened our business to an entirely new customer segment, and we couldn’t be more pleased with our progress.”
In May last year, MoneyGram launched a service that allows its customers in the United States to convert their cryptocurrencies to fiat currencies. The company said it is committed to bridging the gap between Bitcoin and fiat currencies.