Coinme secures US$1.5 million from Ripple’s Xpring, Blockchain Finance Fund

KUALA LUMPUR, Cryptocurrency kiosks and blockchain financial services leader, Coinme Inc has announced that Ripple’s Xpring and Blockchain Finance Fund have invested in the company as part of its A-1 funding round.

Coinme, which received US$1.5 million in funding, plans to use the capital to significantly expand its footprint. (US$1=RM4.18)

The company will obtain additional licences to operate nationwide in the United States and expand to key international markets.

It will also continue to integrate key features into its online wallet in order to serve retail demand for using digital currencies for payments, remittances and as a trusted store of value.

Coinme chief executive officer and co-founder, Neil Bergquist said: We are bolstered by this vote of confidence by Ripple and Blockchain Finance Fund in our vision and the exciting opportunity to provide access to digital currencies for millions of people around the world.

Coinme is building the infrastructure that powers the rapidly growing digital currency economy. We can now bring that infrastructure to a global audience.

According to Ripple senior vice-president Ethan Beard, Coinme is paving the way for mainstream adoption of digital currencies � making it easy for everyone to access cryptocurrencies and use them for payments and cash-based remittances.

Source: BERNAMA (News Agency)