Coinme Announces National Momentum and Strong Growth Across its Mainstream Digital Currency Offerings
Coinme, a venture-backed blockchain financial technology company, today announced strong national momentum and growth of its mainstream digital currency business, led by a massive increase in the number of kiosks where it offers the ability to buy bitcoin. Coinme, which became the first licensed Bitcoin kiosk company in the United States in 2014, now powers the largest Bitcoin kiosk network in the world, having grown from 70 to more than 2,100 locations through its collaboration with Coinstar®.
“Our rapid growth is the result of our leadership in digital currency from the early days of the industry and our expanded ability to offer local kiosks for its purchase,” said Neil Bergquist, CEO and co-founder of Coinme. Bergquist went on to say, “through our relentless focus on customer success and product innovation, we have become the trusted, safe and secure global standard for digital currency exchange.”
After a successful launch in select Albertsons and Safeway locations across Washington, California, and Texas, where Coinme saw 15 percent week over week user acquisition growth, the company is expanding locations to more than 19 states across the U.S., including key markets such as Boston, Chicago, the District of Columbia and Philadelphia. Coinme is also increasing its presence in other major metro markets, such as Austin, Houston, Los Angeles, San Diego and Seattle, among many more. In addition to new locations, Coinme is welcoming new retailers, such as Jewel, Shaw’s, and Save Mart.
“The response to being able to purchase bitcoin at Coinstar kiosks has been extremely positive with overwhelming demand by both consumers and new retailer partners,” said Jim Gaherity, Coinstar CEO. “We are incredibly pleased with this collaboration with Coinme and are eager to continue expanding to new markets in the coming months.”
The first quarter of 2019 has been one of the most successful in Coinme’s five-year history, with 38 percent growth in user acquisition, 92 percent gains in transactions volume, and 109 percent growth in transactions processed compared to Q1 2018. In addition, the company has expanded its suite of products, technologies, and private client services for consumers and businesses, and more than doubled both its customer base and employee headcount, while opening a new headquarters in the Columbia Center in downtown Seattle.
The company also appointed two new executives. Chief Compliance Officer Alex Ketter brings over 10 years of financial and regulatory compliance leadership experience from companies including Google and Fiserv. Chief Marketing Officer Jon Maron is a global executive and tech leader who has more than 20 years’ experience bringing new technologies to the forefront of the market for brands such as HTC, LG, TCL, and Sony, among others.
About Coinstar, LLC
Based in Bellevue, Wash., Coinstar owns and operates the largest fully automated, multi-national network of self-service coin-counting kiosks. With nearly 20,000 kiosk locations, Coinstar provides convenient and reliable coin-counting services at mass merchants, grocery and drug stores and financial institutions. Consumer solutions include coin-to-cash, coin-to-eGift card, and charity donation options. For kiosk locations and information, visit www.coinstar.com.
Coinme is a venture-backed blockchain financial technology company that is dedicated to helping the world gain access to digital currency. Four years ago, Coinme became the first state-licensed Bitcoin ATM operator in the U.S. and now processes millions of dollars (USD) each month. The company’s vertically-integrated network of crypto ATMs, digital wallet, and private client services provide customers the opportunity to join this financial revolution.
About Coinstar, LLC
Coinstar® is the global leader in self-service coin counting with 23,000 kiosks in North America, Europe, and Japan. More than 800 billion coins have been processed since Coinstar’s inception in the early 1990s. In the United States, consumers can convert their change to cash, a no-fee eGift card, or donate to charity at supermarket, mass merchant, drug store, and financial institution kiosk locations. Expanded cash services at Coinstar® kiosks include purchasing cryptocurrencies and adding money into digital accounts. For brand advertisers, Coinstar now offers adPlanet™, which enables lead generation on the interactive kiosk screen and a flexible digital advertising platform that sits atop Coinstar kiosks at select grocery locations. For more information on Coinstar or kiosk locations, visit www.coinstar.com.
Marci Maule Housley