Coinme With $1.5 Million VC Funding For Bitcoin ATMs

Must Read

Bitcoin Bull Rally Incoming? Market Price Keeping Below the Production Cost Ahead of Halving

Bitcoin is staying above its crucial level $9,000 for sometime now while experiencing some...

Trader shares the “Very Reason All Investors Should Hold some Bitcoin”

In 2020, the price of the leading asset had one of its worst one-day drops...

Bitcoin Sees an Influx of Retail Interest with Investors Doubling Down on HODLing

After tumbling down to below $6,500 yet again, Bitcoin went back above $7,000 in...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Ripple’s Xpring and Blockchain Finance Fund have invested $1.5 million in Seattle-based crypto ATM startup Coinme.

Coinme secures $1.5 million in funding

On Sept. 12, Coinme, a global leader in cryptocurrency ATMs, announced that it had secured $1.5 million in funding from Ripple’s Xpring and the Blockchain Finance Fund to further develop its cryptocurrency ATM network in the U.S. and international markets.

Coinme, in partnership with Coinstar, powers the world’s largest Bitcoin (BTC) ATM network, with over 2,600 kiosks across the United States. Neil Bergquist, co-founder and CEO of Coinme 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.”

Ethan Beard, a senior vice president at Ripple echoed similar sentiments by saying that Coinme is paving the way for mainstream adoption of digital currencies. He said:

“Coinme is making it easy for everyone to access cryptocurrencies and use them for payments and cash-based remittances. At Xpring, we support mission-driven companies that have the potential to transform money. The Coinme team brings a perfect blend of experience to tackle this mission, and we’re excited to partner with them.”

At the moment Coinme only offers Bitcoin at its ATMs. However, one could speculate that the investment from Ripple could one day mean that XRP will join Coinme’s network of kiosks. 

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...

WorldMarkets continues with the success of its trading artificial intelligence

Today we live in the information age, and access to information is unlimited. And that produces the paradox of misinformation. That's why...

MyTvchain.com Records Growth for The First Blockchain ​​Web Tv Platform Dedicated to Sport Clubs And Athletes

Sophia Antipolis (France) and Singapore: The first web TV platform dedicated to sports clubs and athletes opened in...

Crypto-Broker Instacoins Receives Operating License in Estonia

Instacoins Estonia OÜ, a cryptocurrency brokerage, is pleased to announce it has received an operating license from the Estonian Financial Intelligence Unit (FIU). The...