Sep 12: Xpring invests in Coinme

by | Oct 1, 2019

On September 12th, Xpring invested in Coinme, a global leader in cryptocurrency ATMs and blockchain financial services.  According to the announcement:

“Coinme’s crypto-enabling software technology will soon power a global network of ATMs and kiosks that could eclipse the scale of the largest fiat ATM institutions we know today. This is the kind of infrastructure we at Xpring want to support as it aligns with our mission to advance the proliferation and adoption of cryptocurrencies, such as XRP, to solve real-world problems. This is Xpring’s first investment in the cryptocurrency kiosk industry.The funds will be used to obtain additional licenses to operate nationwide and expand to key international markets.We’re excited to partner with Coinme. They have the right team, technology, and thoughtful approach as a licensed and regulated entity to be a pillar for mainstream cryptocurrency adoption.”

Coinme is a U.S.-based cryptocurrency ATM provider and is the operator of more than 2500 ATMs. Its network is considered the largest in the world.

In the A-1 Series financing round, the Xpring investment division, consisting of the Ripple and Blockchain Finance Fund, participated. In total, the company has already managed to raise $ 4.5 million, including through the issue of convertible bonds. The funds will go to expand the ATM network in Central and South America, as well as in Europe. Coinme currently operates in only 29 states, but plans to obtain licenses in the rest.

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