CoinFlip, a U.S.-based leading global digital currency platform company, announced its official expansion to Mexico, its eighth international market outside of the United States. CoinFlip’s digital currency kiosks (also referred to as “bitcoin ATMs”) enable simple and secure buying and selling of cryptocurrency using cash, providing an important access point for consumers to participate in the digital currency economy. CoinFlip’s kiosks can be found across Mexico City in over 20 retail locations including shopping centers, coffee shops, bakeries, and other high-traffic locations, including at select Ojo de Agua locations.
“Entering the Mexico market is a logical next step for CoinFlip as we continue our international expansion efforts,” said Ben Weiss, Chief Executive Officer and Co-Founder of CoinFlip. “Our digital currency kiosks provide a familiar and secure on-ramp to the global digital economy for everyday consumers. We’re confident that as adoption of cryptocurrency increases in Mexico, people will seek out technologies like CoinFlip to provide them with a convenient, secure and easy way to buy, sell and invest in cryptocurrency. We’re excited to expand our services to CDMX and join this fast-growing and dynamic community.”
CoinFlip operates the world’s largest network of digital currency kiosks by transaction volume, with more than 5,000 kiosks across nine countries: United States, Canada, Australia, New Zealand, South Africa, Italy, Panama, Brazil and Mexico. CoinFlip is laser-focused on delivering a world-class user experience that prioritizes safety, security and reliability for the company’s more than 400,000 worldwide customers who use its kiosks. CoinFlip’s entry into Mexico completes its North American expansion efforts, having entered the Canadian market in 2022.
“We believe there is an incredible appetite for the services we can provide that enable Mexican customers to combat inflation, build wealth, and easily send or receive money overseas,” said Alejandro Bravo, Country Director of Mexico for CoinFlip. “People want a simple and secure pathway to participating in this new digital economy and CoinFlip delivers on that. As more people become aware of the benefits of digital assets, we anticipate a significant uptick in cryptocurrency ownership in the Mexico market.”
One of the most efficient ways to manage cryptocurrencies is through the CoinFlip App, available on both Android and iOS. The app helps users create a non-custodial cryptocurrency wallet on the blockchain. Once the user has created a wallet, the app allows users to check their balances, securely send and receive international transfers with friends and family anywhere in the world, and easily find CoinFlip ATMs throughout Mexico.
According to a 2023 report by Chainalysis, Latin America has the seventh-largest crypto economy in the world with Mexico ranking #16 in the Global Crypto Adoption Index. In 2023 alone, Mexico’s crypto adoption was up 18% year over year but currently only 14% of residents report ownership. Bitcoin is currently the most popular coin (6%), followed by Litecoin (2%), both of which are offered on CoinFlip ATMs.
“We’ve seen growing demand for digital kiosk services internationally,” said Josh Allen, Group Vice President of Global Kiosks and International of CoinFlip. “As consumer awareness and understanding of digital assets increases, the demand for a simple and secure way to buy and sell these assets using cash is critical. Our kiosks provide a secure way for consumers to transact at a location convenient to them, in the heart of their community. And, with our outstanding 24/7 customer support, CoinFlip sets itself apart in the industry by being laser focused on delivering the best customer experience possible.”
CoinFlip’s compliance program ranks among the best-in-class across the industry. Its in-house legal and compliance department is highly experienced and holds industry-standard certifications such as CAMS. The company is well regarded for its use and integration of industry-leading third-party vendor systems to onboard customers and to detect, block and report potential suspicious activity.
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