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:
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:
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.