Coinme secures $1.5 from Ripple's Xpring, XRP listing on 2,600 ATMs soon?

Coinme, the world's largest Bitcoin ATM network, secured $1.5 million from Ripple's Xpring fund.

The investment could suggest that XRP will soon get listed on Coinme's network of over 2,600 kiosks.

Coinme, through its partnership with Coinstar, hosts the world's largest Bitcoin ATM network with over 2,600 kiosks across the United States.

Today, the startup received a $1.5 million investment from Xpring, an executive from Coinme told CryptoSlate.

Xpring is Ripple's initiative that invests in "Proven entrepreneurs" who will "Use XRP and the XRP Ledger." More broadly, Xpring invests and partners with companies working in the domains of interoperability, decentralized finance, and crypto-based payments.

The investment is part of a recently opened series A round from Coinme, with the Seattle-based firm looking to raise a total of $11.8 million.

"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," said Ethan Beard, a senior vice president at Ripple.

Currently, Coinme only offers Bitcoin at its ATMs. However, the investment from Ripple could indicate that the company is working to roll out XRP on its massive network of kiosks.

CryptoSlate reached out to both Coinme and Ripple for confirmation and has yet to receive comments.

Coinme plans on using the additional capital to expand its network.