Coinstar, a leader in self-service financial kiosks, has announced the launch of CINQ by Coinstar, a digital wallet developed in partnership with crypto infrastructure platform Zero Hash. The collaboration enables cash-to-crypto transactions at up to 9,500 kiosks within Coinstar's network of over 17,000 locations across the United States.
How It Works: Cash to Crypto in Minutes
Users can purchase more than 25 different cryptocurrencies and stablecoins using paper currency at Coinstar kiosks located in major grocery stores, or through the CINQ by Coinstar mobile app. The wallet also supports connecting multiple bank accounts via ACH deposits, allowing seamless movement between cash, stablecoins, and crypto assets. Zero Hash's infrastructure powers the entire process, ensuring security and regulatory compliance.
Coinstar CEO Kevin McColly praised Zero Hash as a "secure and industry leading" provider that bridges traditional cash services with digital currency access. Zero Hash CEO Edward Woodford emphasized that the partnership could reduce remittance fees for immigrant communities who rely on cash-based transfers, making cross-border payments more affordable.
2025 Roadmap: Expanding Financial Inclusion
Coinstar plans to extend the wallet's services in 2025, focusing on underbanked Americans and immigrants. While the CINQ by Coinstar wallet is available in all 50 states, the kiosk-based cash-to-crypto feature is not yet live in New York and select other states. The initiative represents a significant step in bridging the gap between traditional cash systems and digital finance, potentially bringing millions of unbanked individuals into the cryptocurrency ecosystem.