Bitcoin ATM operator Coinme raises $10M, led by Pantera Capital & Coinstar

posted 3 months ago
Seattle-based Bitcoin ATM operator Coinme raised $10 million, led by Pantera Capital and Coinstar. Coinme’s future plans include expanding worldwide with its cash-to-crypto product, having proven its business a successful model in the US. Proceeds will be spent mainly on expansion in Latin America, and developing Coinme’s native mobile application.

Coinme operates its API on over 3,500 cash-to-crypto machines and kiosks, and offers a wallet application for users to manage large-cap digital assets. The firm's unique API and proprietary digital wallet that can be afixed to any existing ATM, kiosk, PoS device, or merchant. This approach saves investment on larger machines and helps in the quick expansion of its product. Neil Bergquist, the CEO of Coinme, notes cryptocurrency transaction volumes have grown by 40% since the Dow Jones Industrial Average peaked in late February, indicating people are “interested in owning a deflationary currency now more than ever.”
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