Description
Coinme is a licensed US money transmitter (NMLS ID 1185542) providing Crypto-as-a-Service (CaaS) infrastructure for businesses. Founded in 2014, Coinme offers modular API integrations for fiat-to-crypto and crypto-to-fiat conversions, enabling platforms to launch crypto features in weeks rather than months.
Key capabilities:
- On/Off-Ramps — USD-to-crypto and crypto-to-USD conversions via debit card, bank transfer, or cash at thousands of physical locations
- KYC/AML Compliance — Built-in customer onboarding, sanctions screening, and fraud monitoring
- Payment Processing — Support for multiple payment methods including debit, ACH bank transfer, and cash
- Crypto Conversion — Real-time quoting and fulfillment for fiat-to-crypto and crypto-to-fiat transactions
- Custody — Choose between integrated custody solutions or settlement to non-custodial wallets
- Liquidity — Deep liquidity across multiple currencies with competitive pricing
- On-Chain Monitoring — Real-time blockchain monitoring for enhanced compliance and security
Use cases:
Coinme serves web3 wallets, fintechs and neobanks, remittance platforms, payment apps, investment platforms, and traditional banks. The platform is fully licensed and regulated in 48 US states plus Puerto Rico, making it the fastest route for global platforms to offer compliant crypto services in the United States. Coinme is trusted by industry leaders including Exodus, MoneyGram, Mercuryo, and Baanx.
Highlights
Pros
- Acquired by Polygon Labs (announced January 2026) to bridge regulated US fiat infrastructure with onchain stablecoin payments as part of the Open Money Stack.
- Licensed and regulated money transmitter (NMLS #1185542) in 48 US states plus Puerto Rico, operating the largest licensed crypto cash exchange in the United States.
- Trusted by leading fintech platforms including Exodus, MoneyGram, Mercuryo, and Baanx as a Crypto-as-a-Service API infrastructure provider.
- Over 50,000 physical retail locations nationwide through strategic partnerships with Coinstar and MoneyGram, offering cash-to-crypto access at familiar local stores.
- Surpassed $1 billion in transaction volume and achieved profitability in 2024, with a 164% average annual revenue growth rate since founding.
- First licensed Bitcoin ATM operator in the US (2014), pioneering compliant cash-to-crypto access and setting early regulatory standards with Washington State regulators.
Cons
- Some users report significant discrepancies between the crypto amount purchased and the amount received after transfer, with slow and opaque resolution processes.
- Customer support responsiveness is a recurring pain point, with multiple users reporting support tickets that remain unresolved for weeks or months.
- Account creation and verification failures have caused some users to lose access to purchased funds, requiring a manual review and check-mailing process that can exceed 30 business days.
- The customer service chatbot system creates friction when escalating issues to human agents, with some users directed to form submissions that lack comment fields.