Today we are announcing that Xpring has invested in Coinme, a global leader in cryptocurrency ATMs and blockchain financial services. In 2014, Coinme launched one of the first cryptocurrency ATMs in the United States, and now through its ‘crypto-enabling’ technology and recent partnership with Coinstar, Coinme powers the largest cryptocurrency ATM network in the world.
Coinme believes money should be accessible anywhere, and to help people everywhere understand and utilize the power of digital currencies. By removing the technical complexities associated with buying and selling cryptocurrencies, Coinme enables consumers to engage with cryptocurrencies for the first time to support use cases like cash-based remittances important to financial inclusion.
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.