Ripple invests in Coinme Bitcoin ATM provider

Ripple invest Coinme

Coinme, a U.S.-based cryptocurrency ATM provider, raised $1.5 million.

The participator of A-1 Series financing round was the Xpring investment division, consisting of the Ripple and Blockchain Finance Fund. In total, the company has already managed to raise $4.5 million, including through the issue of convertible bonds.

All the money will go to expand the ATM network: in Europe, South America and Central America. 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 growth rate of the crypto market will reach approximately $184 million, increasing by 47%.