Coinstar Launches Digital Wallet 'CINQ by Coinstar' to Expand Possibilities for Using and Managing Finances

CINQ by Coinstar™ wallet set to give physical currency more power to transform; first enabling cash to crypto conversion powered by Zero Hash

BELLEVUE, Wash., Oct. 28, 2024 /PRNewswire/ -- Coinstar®, LLC, a global financial services leader, today unveiled more possibilities for transforming physical currency through CINQ by Coinstar™, its new digital wallet. As part of Coinstar's expansion of its convenient, reliable payment solutions to make money more accessible, CINQ by Coinstar allows cash and coins to move and transact more seamlessly in the digital world. Through a partnership with Zero Hash, the leading stablecoin and crypto infrastructure platform, CINQ by Coinstar will launch with the ability to purchase cryptocurrency and stablecoins with cash at more than 9,500 Coinstar kiosks across the U.S. and on its mobile app. With the digital wallet infrastructure in place, additional money management capabilities will follow in 2025 through new or expanded Coinstar partnerships.

While one motivation for converting coins is to solve an immediate financial need, Coinstar continues to deliver a transformational benefit, with users citing a strong sense of satisfaction, accomplishment and relief after completing a coin exchange for any of its payments solutions.¹ But as Coinstar users increasingly adopt online payment options¹ – in line with global shopping preferences – the CINQ by Coinstar digital wallet will give users access to explore other ways for using, managing and moving converted coins and cash. The milestone marks a capability expansion beyond Coinstar's physical kiosk network to grow user capabilities while continuing to meet high brand expectations in customer service.

"As a trusted, legacy player in self-serve financial services, Coinstar has and will continue to enable people to make their cash go further," said Kevin McColly, CEO at Coinstar. "We are building upon that legacy with CINQ by Coinstar, so users can engage in their finances in the ways most important to them with a reliable partner. Our brand evolution offers immense growth potential and digital opportunities for Coinstar and its users, making us one of the largest physical self-serve financial networks with a digital wallet."

In the initial rollout of CINQ by Coinstar, users can seamlessly move in, out and between cash, stablecoins and crypto. Following identity verification by Zero Hash, users can buy over 25 crypto assets and stablecoins with paper currency at the vast network of Coinstar kiosks throughout the largest grocery retail stores across North America. The CINQ by Coinstar mobile app further offers the ability to buy, sell and transfer over 30 digital assets and stablecoins. Users can connect multiple bank accounts, while Zero Hash's platform facilitates USD deposits via ACH, allowing users to hold balances in cash or crypto and easily manage their financial needs.

“We’re proud to partner with Coinstar to support its mission of empowering financial access across America,” said Edward Woodford,” CEO and Founder at Zero Hash. “CINQ by Coinstar has been able to seamlessly embed out regulatory compliant infrastructure to support new ways for cash-preferred customers to move safely and seamlessly between fiat and crypto uses cases.” 

There are two ways to get started buying cryptocurrency through Zero Hash at Coinstar kiosks:

1. Download the CINQ by Coinstar app, verify your account and visit a Coinstar kiosk with your cash. Or connect your bank account in the app and get started immediately.
   
   
2. Visit a Coinstar kiosk, select cryptocurrency from the options and choose CINQ by Coinstar to get started with your crypto purchase through Zero Hash. Enter your mobile number at the kiosk, then download the CINQ by Coinstar app and complete your account setup.

To learn more about CINQ by Coinstar and follow along for additional product innovations, visit www.cinqwallet.com, or to find a CINQ by Coinstar enabled kiosk, visit our kiosk finder here.²

¹The survey was conducted by a third-party research firm using Qualtrics on behalf of Coinstar in July 2024. The results are based on a comprehensive review of 2,416 Americans, balanced to the census on gender, ethnicity, income and age of 18 years old and above.
²Transactional limitations apply. The CINQ by Coinstar wallet is available in all 50 states. However, Zero Hash-enabled kiosks are not yet available in all states, including the state of New York.

About Coinstar, LLC
Coinstar® is a global leader in money transformation and the largest physical self-serve financial network with a digital wallet, CINQ by Coinstar. Through its digital wallet, mobile app and network of 24,000 kiosks in North America and Europe, Coinstar offers a wide range of financial services which enable users to transform their physical currency. Its reliable payment solutions offer one-stop shopping experiences at convenient kiosk locations including coin conversion to cash, NO FEE eGift cards and charitable donations as well as account transfer services powered by our bank partners. Users can also move money and transact more seamlessly in the digital world through CINQ by Coinstar with the ability to buy, sell and transfer cryptocurrencies in its initial rollout. For brand advertisers, Coinstar offers adPlanet™ Retail Media Group, which enables lead generation on the interactive kiosk screen and a digital out of home network that delivers advertising via high-definition screens on top of Coinstar kiosks at select retail and grocery locations. For more information on Coinstar, visit www.coinstar.com.

About Zero Hash
Zero Hash is the leading crypto and stablecoin infrastructure provider that seamlessly connects fiat, crypto and stablecoins in one platform, enabling a better way to move and transfer money and value globally.

Through its embeddable infrastructure, start-ups, enterprises and Fortune 500 companies build a diverse range of use cases: cross-border payments, commerce, trading, remittance, payroll, tokenization, wallets and on and off-ramps.
Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001.  This registration enables Zero Hash to offer its crypto services in Australia.  Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503.  A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services.  Zero Hash Australia Pty Ltd.'s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator.  Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684).  Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).

Connect with Zero Hash
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Zero Hash Disclosures
Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash's technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers.

SOURCE Coinstar