Margo Bitcoin ATM Network Raises $16 Million Investment from Chicago Atlantic
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Margo’s Bitcoin ATM network has received a $16 million investment from Chicago Atlantic, indicating growing interest in accessible cryptocurrency solutions. Margo’s user-friendly ATMs are widely sold in retail stores across the U.S., making digital currency more convenient for the average consumer. This partnership aims to further expand reach and innovation in the cryptocurrency space.
Chicago Atlantic commits $16 million to Margo Bitcoin ATM network, enhancing cryptocurrency accessibility
Prominent investment firm Chicago Atlantic has made a significant move into the cryptocurrency space by announcing a significant $16 million senior secured loan to Margo, a cryptocurrency ATM operator with a mission to simplify and democratize access to digital currencies. This strategic partnership highlights Chicago Atlantic’s commitment to fostering innovation in high-impact sectors and increasing financial literacy in the emerging digital economy.
Previously known as PowerCoin and recently rebranded in 2023, Margo has quickly become a prominent player in the cryptocurrency ATM landscape. Founded in 2019, the company offers a nationwide network of Bitcoin ATMs for individuals looking to convert cash into cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), NFTs, or other tokens. Provides a user-friendly experience.
What sets Margo apart is its widespread presence across popular retailers such as Royal Farms, HEB, Yesway, United Natural Foods Inc. (UNFI), and Ace Cash Express, making digital currency incredibly convenient for everyday consumers. Margo also runs a private client desk where both individuals and institutions can trade significant amounts of cryptocurrency ranging from $3,000 to $1 million per day.
Chicago Atlantic’s decision to invest in Margo highlights the growing importance of the cryptocurrency industry and its potential to reshape the financial landscape. “Margo is shaping the future of financial literacy by redefining the way consumers interact with digital currencies and making cryptocurrencies more accessible,” said Tony Cappell, founding partner at Chicago Atlantic. No company better aligns with our values of putting people first and our commitment to driving innovation where it’s needed most. We are honored to partner with Margo to expand our reach.”
This partnership is expected to provide Margo with the financial resources needed to further expand its cryptocurrency ATM network and solidify its position as a leader in the field. As cryptocurrencies continue to gain mainstream acceptance, there is a growing demand for a user-friendly and accessible entryway into the world of digital assets. Margo’s innovative approach and financial support from Chicago Atlantic aim to address this growing need.
“Chicago Atlantic brought to the table detailed solutions designed to help us scale our business with the utmost care and confidence,” said Austin Haller, CEO of Margo. “Their experience in cutting-edge industries will help drive our long-term goals and we look forward to strengthening secure digital currency investments for years to come.”
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