Coinme has continued to broaden its network to expand access to digital currencies and a better financial future. The company expanded its partnership with MoneyGram, added additional cryptos, and plans integration of USDC on Stellar.
2022 has been an eventful year in crypto. However, Coinme continued to focus on making the purchase and sale of crypto simple, trusted, affordable, and instant. Now is the time to bring actual use cases to crypto to bring to fruition the equitable financial system that crypto pioneers intended.
With that in mind, here are seven Coinme developments executing this mission below.
MoneyGram makes a minority investment in Coinme
Expanding on its partnership with Coinme, announced in May 2021, MoneyGram announced it completed a strategic minority investment in Coinme to support the growth and development of the company and its cryptocurrency cash network.
In the press release, MoneyGram Chairman and CEO Alex Holmes shared, “our investment in Coinme further strengthens our partnership and compliments our shared vision to expand access to digital assets and cryptocurrencies.”
Coinme adds first legal counsel
To help the company through its continued expansion and growth, Coinme added its first internal legal counsel, Tom Davis, to its executive team. Davis is a 25-year veteran attorney and previously led IBM’s North America Business Unit, focusing on financial crimes insight and regulatory compliance. In addition, he is a former FBI Special Agent, assigned to the White Collar Crime Squad in Seattle, and has been a Certified Fraud Examiner since 2002.
Coinme hires new chief compliance officer
Coinme hired Brian Reisbeck as its new chief compliance officer, underpinning its dedication to regulatory rigor and compliance. Reisbeck is a 20-year veteran in the financial services industry, having served as the chief compliance officer at a major U.S.-based crypto exchange, where he managed and supervised compliance and regulatory programs.
Coinme climbed to over 21k locations
Coinme had a presence at its first conference, Bitcoin 2022. There, it announced its network grew 185% from the year prior, climbing to over 21,000 locations in the U.S. With this expansion, Coinme network outpaces any bitcoin ATM network in the U.S., with nearly 90% of the U.S. population living within five miles of a Coinme-enabled location.
Coinme, Circle, and Stellar announce partnership
At Consensus 2022, Coinme, in partnership with Circle and Stellar, announced the integration of USDC transactions powered by Stellar into Coinme’s global cash onramp and offramp network. As a result, customers will have the ability to cash in and out of USDC at thousands of Coinme-enabled locations and send USDC peer-to-peer over the Stellar network. The service is expected to be live in 2023.
Coinme goes beyond bitcoin
For the first time, Coinme enabled the purchase of Chainlink, Dogecoin, Ethereum, Litecoin, Stellar and Matic on Coinme-enabled Coinstar® kiosks. The availability of the newly listed coins on over 10,000 Coinstar kiosks designates Coinme as the leading national cash gateway to digital currencies.
Co-Founder and CEO of Coinme Neil Bergquist commented on the news, saying, “our partnership with Coinstar has allowed us to scale to 10,000 additional physical locations, providing instant cash onramps to crypto, which can be purchased and securely stored in the Coinme wallet or sent to nearly any wallet globally.”
MoneyGram selects Coinme to power online/app-based crypto offering
MoneyGram launched a new service enabling consumers to buy, sell and hold cryptocurrency via the MoneyGram mobile app, powered by Coinme.
Alex Holmes, MoneyGram Chairman and CEO, commented, “as a next step in the evolution of MoneyGram, we’re thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies.”
Coinme spearheads the second annual crypto literacy month
Since 2022 has been so eventful for crypto, Crypto Literacy Month came at an excellent time to remind consumers where accessible crypto knowledge and education are available. The survey found a slight increase in the number of people who could pass the Crypto Literacy Quiz, with 9% of respondents passing the quiz versus 4% in 2021. The 2022 State of Crypto Literacy report also found that 32% of Americans now own cryptocurrency.
What’s in store for Coinme in 2023?
Coinme will continue expanding cash access to digital currencies and provide crypto financial services products that solve real-world consumer problems. Stay tuned for more partnerships, products and network expansions to be announced.