Ripple Invests in Coinme Bitcoin ATM Provider
Coinme, a U.S.-based cryptocurrency ATM provider, raised $ 1.5 million.
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.
Coinme is the operator of more than 2500 ATMs. Its network is considered the largest in the world.
According to Coin ATM Radar, on September 14, the total number of bitcoin ATMs around the world is 5,585. Since January 1, 2016, this figure has grown by more than 1100%.
Recall, according to forecasts, by 2024, the average annual growth rate of the global cryptocurrency market will increase by almost 47% and reach $ 183.7 million.
