2,000 More US Grocery Stores Enable Bitcoin Buying at Coinstar Machines

CoinDesk | April 24, 2019

2,000 More US Grocery Stores Enable Bitcoin Buying at Coinstar Machines
Supermarket kiosk chain Coinstar is expanding the footprint of its bitcoin-buying service to more than 2,000 locations in 19 different states. The service, through a partnership with blockchain startup Coinme that offers individuals the ability to convert cash into bitcoin, has expanded from an initial 70 machines to some 2,100 different kiosks, Coinme announced Wednesday. Further, while the partnership initially enabled kiosks in Albertsons and Safeway stores, customers can now access the buying option in Jewel, Shaw’s and Save Mart locations, according to a press release. Coinstar CEO Jim Gaherity said in a statement that his company saw an “extremely positive” response to the initial announcement in January 2019. At the time, Coinstar announced that customers could purchase bitcoin using U.S. dollar bills, though coins would not be accepted for such transactions. The company imposed a $2,500 limit. Wednesday’s press release explained that the partnership’s initial launch saw a 15 percent week-over-week growth in user acquisition, the release noted.

Spotlight

Dividends and the companies that pay them are regaining the attention of advisors and investors alike due to their ability to provide a predictable source of steady income, buffer market volatility and offer the potential for capital appreciation. As bond yields have fallen over the past decade, many traditional sources of investment income have become less attractive to investors looking for income. Dividend-paying stocks possess the attributes sought after during a volatile and uncertain marketplace as well as a compliment or supplement income from fixed income holdings.

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Spire Capital announced Investment in TBM Services Company Advocate

Cision PR Newswire | August 28, 2020

Spire Capital, a leading New York-based private equity firm specializing in investments in the technology-enabled business services, communications, media, and education sectors, today announced its investment in Advocate Networks, LLC ("Advocate" or the "Company"). Advocate is the Premier TBM Services Company providing technology business management ("TBM") and technology expense management ("TEM") services to enterprise organizations needing to optimize their technology strategy and infrastructure. Spire is partnering with Co-CEOs, Tim Wise and Scott Fogle, who founded the Company in 2001 and will continue to lead the Company. This investment marks the second platform investment in Spire's fourth fund. Advocate's services include TBM-as-a-Service, TEM-as-a-Service, and advisory services that assist their clients in expense and contract management, business/data analytics, IT cost reduction, and IT planning. Advocate has built a proprietary data warehouse solution known as "Helix" and an automation platform known as "Yottamation", that combine to enable differentiated service offerings to its clients. Advocate was named Apptio's #1 Enterprise Partner for North America in 2019, confirming Advocate's "premier" positioning.

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PAYMENTS

Paystand Leads the Blockchain for Business Movement, Surpassing $2B in Payment Volume Over Its Zero-Fee B2B Network

Paystand | August 18, 2021

Paystand, the blockchain-enabled payment network for business, today announced another year of record-setting growth, with payment volume over its network accelerating past $2B. By doing so, Paystand becomes the fastest B2B payment company to reach this milestone, which comes amidst the larger fintech movement toward an open financial infrastructure. “There’s no question that blockchain is the unstoppable future for every essential business function, and Paystand has been pioneering blockchain applications for enterprise since 2013,” said Jeremy Almond, Paystand’s co-founder and CEO. “In the same way that the birth of the internet led to a universal shift in the way we produce and consume information, blockchain has the ability to transform every aspect of how we do business. We’re excited to make that transformation a reality in the realm of B2B payments.” Paystand’s rapid growth has continued throughout the pandemic as a direct result of the company’s ability to streamline essential accounts receivable (AR) tasks for finance teams, including automating cash application, reducing DSO by as much as 62% by offering embedded “pay now” buttons for email invoices, and digitizing cash flow management. Now, Paystand has been named to the Inc. 5000 list for the second straight year, and is growing at nearly 2x the median for all companies on the list – underscoring its impact in transforming B2B payments and commercial finance. Driven by a flat-rate, Payments-as-a-Service business model that creates a predictable cost structure for AR, Paystand has built the first real alternative to today's monopolistic card networks and paper-heavy processes: a B2B payment network that delivers unrivaled speed, security, and cost. Paystand’s growth acceleration over the past 12 months – due largely to the superior economics its payment network offers businesses – is evident across all areas of the company: “As our team continues its growth rate of 100%, we will continue to hire top talent that’s dedicated to rebuilding our financial infrastructure from the ground up,” says Aliyah Nance, Paystand’s VP of People. “Being named to the Inc. 5000 list for the second year in a row highlights Paystand’s position as the leader of the next wave of fintech, and we’re looking forward to expanding every facet of our organization with individuals who are dedicated to our mission.” About Paystand Paystand is on a mission to create an open commercial finance system, starting with B2B payments. Using blockchain and cloud technology, the company has pioneered Payments-as-a-Service to automate the entire enterprise cash cycle. Paystand makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue. Paystand has been consistently recognized as a top innovator in enterprise financial services and was named to the Inc. 5000 list in both 2020 and 2021.

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BITCOIN AND CRYPTO

NYDIG Acquires Digital Assets Data

NYDIG, Digital Assets Data | January 18, 2021

NYDIG, a leading supplier of investment and technology answers for Bitcoin, declared today it has gained Digital Assets Data, a leading data, research, and analytics organization building endeavor grade software and data takes care of. The obtaining adds to NYDIG's top tier stage for foundations, hedge funds, high total assets investors, and banks hoping to open the maximum capacity of Bitcoin as an asset class. "We're thrilled to be adding the powerful data capabilities developed by Mike and Ryan Alfred and the Digital Assets Data team to our full suite of technology-driven financial services solutions," said Robert Gutmann, co-founder and CEO of NYDIG. "This acquisition enables us to provide our clients with an even broader array of data and intelligence to drive research and inform trading decisions. As the institutionalization of Bitcoin accelerates, so does the need for enterprise-grade data and tools to support it." Established in 2018, Digital Assets Data gives a ground-breaking data and exploration stage to convey institutional-level data and experiences on digital assets to a wide client base of expert asset administrators, hedge funds, family workplaces, and institutional investors. The stage gives asset chiefs excellent data and modern instruments to follow and oversee investments, lead due steadiness, and settle on investment and exchanging choices. "Our mission is to empower investors and data-driven organizations to get the most out of digital assets, and we feel the NYDIG team will help further bring this vision to life," said Mike Alfred, co-founder and CEO of Digital Assets Data. "NYDIG's best-in-class platform, meeting the highest security, operational and regulatory standards, combined with our powerful data capabilities, will empower investors to make complex data-based decisions about digital assets in real-time." The securing comes in the midst of a more than 10x expansion in NYDIG customers in 2020 and proceeded with speeding up across its establishments. NYDIG likewise as of late reported the dispatch of a Bank Solutions practice, pointed toward engaging banks and fintech organizations to offer Bitcoin-related items and administrations. The association's authority, asset the executives, and financing surpluses surpass $4 billion in total. About NYDIG NYDIG is a leading technology and financial services firm dedicated to Bitcoin. The firm and its subsidiaries provide institutional investment, brokerage, treasury, and technology solutions to institutions, banks, and private clients, including insured custody, execution, asset management, financing, and research. NYDIG was founded in 2017 as the digital asset subsidiary of Stone Ridge Holdings Group, owner of a $10B+ alternatives asset manager in New York. NYDIG meets the industry's highest regulatory, audit, and governance standards, and the firm's subsidiaries hold both a BitLicense and a limited purpose trust charter from the New York State Department of Financial Services. About Digital Assets Data Digital Assets Data is a financial technology and data company building enterprise-grade software and data feeds for crypto hedge funds, family offices, research firms, global consulting firms, banks, sovereigns, and other market participants.

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Spotlight

Dividends and the companies that pay them are regaining the attention of advisors and investors alike due to their ability to provide a predictable source of steady income, buffer market volatility and offer the potential for capital appreciation. As bond yields have fallen over the past decade, many traditional sources of investment income have become less attractive to investors looking for income. Dividend-paying stocks possess the attributes sought after during a volatile and uncertain marketplace as well as a compliment or supplement income from fixed income holdings.