Сryptocurrency ATM provider Coinme raised $ 1.5 million in A-1 Series financing round. Xpring investment division and Blockchain Finance Fund is the major investors. 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.
According to Ethan Beard, Ripple Coinme’s senior vice president facilitates access to cryptocurrencies and promotes their mass adoption. In turn, Ripple is very pleased to work with a business that is associated with money transfers and money conversion.
We are thrilled to announce our that @Ripple‘s #Xpring and the newly established #Blockchain Finance Fund have made investments as part of our recently opened A-1 funding round.
Full Release: https://t.co/yjNH4JiQpR pic.twitter.com/qCkrgICUjg
— Coinme (@CoinmeATM) September 13, 2019
Coinme is the operator of more than 2500 ATMs. Its network is considered the largest in the world.
According to the Coin ATM Radar service, the total number of Bitcoin ATMs around the world is 5,585 on September 14. Since January 1, 2016, this figure has grown by more than 1100%.
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.
North America and Europe are now industry leaders, thanks to the early adoption of technology and the presence of major market players in the region.
An increase in demand for cryptocurrencies is expected in the Asia-Pacific region, which will be due to the growing popularity of cryptocurrencies, in particular, Bitcoin.
Source: en.bit.news
