Trust Wallet Launches Cash Deposits Across 48 U.S. States to Convert Physical Cash Into Self-Custody Digital Assets

DUBAI, United Arab Emirates — February 18, 2026

Executive Summary

Trust Wallet has introduced a nationwide Cash Deposits feature in the United States designed to allow users to convert physical cash into digital assets directly within their self-custody wallet. The new capability enables users to load cash at more than 15,000 retail locations across the country and receive stablecoins and other supported digital assets directly into their Trust Wallet without the use of a bank account, debit card, or custodial intermediary. The feature is powered by Coinme, a licensed and regulated crypto infrastructure provider founded in 2014. According to the company, the initiative addresses one of the most persistent barriers to digital asset participation in the U.S.: reliance on traditional banking infrastructure. The rollout spans 48 states and Puerto Rico, with certain state-specific exclusions noted by the company, and is positioned as one of the first large-scale integrations of physical cash on-ramps directly into a mainstream self-custody wallet application.

Announcement Overview

Trust Wallet announced the U.S. launch of Cash Deposits as a direct integration within its wallet application, enabling users to convert physical cash into digital assets through Coinme’s nationwide retail network. The company stated that the feature removes the need for bank accounts, debit cards, or custodial balances by allowing cash-to-crypto transactions to occur directly into a self-custody wallet environment.

The launch is designed to support users who transact primarily in cash and may not have access to traditional financial services. According to Trust Wallet, the integration connects Coinme’s regulated retail cash infrastructure with the Trust Wallet self-custody experience, enabling users to move from physical currency to stablecoins and other digital assets within minutes.

Retail locations available for deposits are displayed inside the Trust Wallet app prior to transaction initiation, allowing users to identify nearby participating stores supported through Coinme’s network. Once cash is deposited at a participating retail outlet, digital assets are delivered directly to the user’s self-custodial wallet without funds being held in an intermediary custodial account after the transaction is completed.

Key Announcement Details

• Announcement Classification: United States product feature launch
• Product Designation: Cash Deposits
• Functional Category: Physical cash-to-digital asset on-ramp integrated within a self-custody Web3 wallet application
• Issuing Entity: Trust Wallet
• Infrastructure Provider: Coinme (licensed and regulated U.S. crypto infrastructure operator founded in 2014)
• Transaction Pathway:
  1. User initiates deposit inside Trust Wallet application
  2. App displays eligible nearby retail deposit locations
  3. User deposits physical cash at participating retail outlet
  4. Coinme infrastructure converts cash into supported digital assets
  5. Digital assets delivered directly to user’s Trust Wallet address
  6. No custodial holding of funds after settlement
• Custody Model: Non-custodial; user retains control of private keys and assets at all times post-delivery
• Intermediary Exposure: No bank account required; no debit card required; no exchange custodial balance required
• Retail Infrastructure Footprint: Over 15,000 participating retail locations nationwide
• National Coverage Scope: 48 U.S. states and Puerto Rico
• Cash On-Ramp Exclusions: New York and Vermont
• Stablecoin Purchase Exclusions: Texas
• Settlement Speed: Funds typically delivered within minutes following successful retail deposit confirmation
• Asset Types Supported at Launch: Stablecoins and selected cryptocurrencies, including Bitcoin (BTC) and Solana (SOL)
• User Interface Transparency: Participating deposit locations displayed within app prior to transaction confirmation
• Primary Target Demographic: U.S. individuals operating in cash-based income environments, including gig and service-sector earners
• Global Platform Context: Trust Wallet reports more than 220 million users worldwide
• Launch Date: February 18, 2026
• Headquarters of Issuer: Dubai, United Arab Emirates
• Operational Jurisdiction: United States
• Regulatory Context: Availability determined by applicable state-level operating conditions governing digital asset and stablecoin activity

Bridging Physical Cash and Digital Assets

The Cash Deposits feature is structured to allow users to initiate a transaction inside the Trust Wallet application, select a nearby retail location supported by Coinme’s network, deposit physical cash at that location, and receive digital assets directly into their self-custody wallet. According to Trust Wallet, this design eliminates traditional friction points commonly associated with converting cash into digital assets, particularly those involving bank-linked funding mechanisms.

Trust Wallet stated that millions of individuals in the United States receive income fully or partially in cash, including gig workers, service industry employees, and individuals operating in cash-dominant local economies. For many of these individuals, maintaining a bank account or accessing debit card services may present structural barriers. The Cash Deposits integration is intended to provide a direct pathway into digital finance without requiring participation in the conventional banking system.

By allowing physical cash to be converted into stablecoins and other digital assets directly inside a self-custody environment, the feature is positioned to expand access to decentralized applications, digital payments, remittances, and broader Web3 functionality.

Infrastructure Powered by Coinme

The Cash Deposits feature operates through Coinme’s regulated crypto infrastructure network. Founded in 2014, Coinme provides licensed and compliant digital asset infrastructure services, including API-based integrations that enable partners to embed crypto and stablecoin functionality within web and mobile applications.

According to Coinme, its infrastructure enables seamless conversion from cash to digital assets within compliant frameworks across supported jurisdictions. Through its retail partner network, users can deposit cash in person and have digital assets delivered electronically to a specified wallet address.

Neil Bergquist, CEO and co-founder of Coinme, stated that the company’s objective has been to bridge physical cash with digital assets at scale, and that the integration with Trust Wallet extends that infrastructure into a mainstream self-custody environment. By combining Coinme’s retail network and compliance infrastructure with Trust Wallet’s wallet architecture, the companies aim to deliver a nationwide cash-to-digital experience accessible within a single application interface.

Access Without Traditional Banking Requirements

Trust Wallet emphasized that Cash Deposits eliminates dependency on banks and debit cards for users seeking to access digital assets. According to the company, traditional digital financial tools frequently assume the availability of bank-linked payment rails, leaving cash-dependent individuals without straightforward on-ramps.

Felix Fan, CEO of Trust Wallet, stated that the feature is designed to meet users where they are by providing a direct route from physical cash to digital assets under user control. The company highlighted that once a transaction is completed, funds are not held in an intermediary custodial account but are instead delivered directly into the user’s self-custody wallet.

The self-custody model allows users to maintain control over their private keys and digital assets, distinguishing the feature from custodial exchange models where funds are stored under third-party management.

Settlement Speed and User Experience

According to Trust Wallet, funds from Cash Deposits transactions typically arrive within minutes, enabling near-real-time access to digital assets following cash deposit. The company stated that faster settlement times allow users to access decentralized applications, initiate transfers, or engage with digital finance tools without extended waiting periods.

The Trust Wallet application displays supported retail locations prior to transaction initiation, providing users with visibility into nearby deposit options. This pre-transaction display is designed to allow users to evaluate available locations within Coinme’s network before proceeding with a deposit.

The feature’s availability across 48 states and Puerto Rico establishes broad national coverage, with state-specific exclusions disclosed by the company in accordance with regulatory and compliance requirements.

Expanding Participation in the Digital Economy

Trust Wallet positioned the Cash Deposits feature as a means of broadening participation in digital finance by reducing structural barriers tied to traditional financial infrastructure. The company noted that individuals paid in cash may face limitations in accessing digital financial tools that rely on card or bank-based funding systems.

By integrating physical cash conversion directly into a self-custody wallet, Trust Wallet enables users to enter digital asset ecosystems without relinquishing control of their funds to custodial intermediaries. The company stated that this approach supports access to decentralized applications, digital payments, remittances, and on-chain financial tools.

The partnership between Trust Wallet and Coinme combines established retail cash infrastructure with a self-custody Web3 wallet environment, delivering a consolidated pathway from physical currency to blockchain-based assets.

Market Scale and User Base Context

Trust Wallet reports a global user base exceeding 220 million users, positioning it as one of the most widely adopted self-custody Web3 wallets worldwide. The Cash Deposits rollout introduces a new funding pathway within that ecosystem specifically tailored to the United States market.

The integration of cash-to-stablecoin functionality at nationwide scale represents one of the first mainstream deployments of this capability directly within a self-custody wallet application. Historically, cash-based crypto access has often required separate kiosk systems or exchange intermediaries. By embedding this pathway inside a mobile wallet environment, the companies aim to streamline the user experience while maintaining compliance and operational safeguards.

Geographic Availability and State-Level Scope

Trust Wallet confirmed that the Cash Deposits feature is available across 48 U.S. states and Puerto Rico, providing near-national access to the cash-to-digital pathway through Coinme’s retail network. The rollout establishes broad geographic coverage from launch, allowing users in most parts of the country to convert physical cash into digital assets directly within a self-custody environment.

The company noted that the cash on-ramp is not currently available in New York and Vermont. In addition, stablecoin purchases are not available in Texas. These limitations reflect state-specific operating conditions for digital asset services and stablecoin activity.

By clearly outlining state-level availability at launch, Trust Wallet positions the feature as nationally scaled while acknowledging the jurisdictional distinctions that shape digital asset distribution in the United States. The company indicated that supported retail locations are displayed within the app prior to initiating a transaction, enabling users to confirm availability based on their location before proceeding.

About Trust Wallet

Trust Wallet is a global self-custody Web3 wallet platform serving more than 220 million users worldwide. Established to provide individuals with direct ownership and control over their digital assets, the company operates as a non-custodial wallet provider, enabling users to retain control of private keys and asset custody rather than entrusting funds to centralized exchanges or third-party custodians.

The platform supports storage and management of a broad range of cryptocurrencies and digital assets, including stablecoins and NFTs, and enables users to interact directly with decentralized applications across multiple blockchain networks. In addition to asset storage, Trust Wallet provides integrated functionality for token swaps, staking, and on-chain transactions within a single mobile interface designed to serve both entry-level users and experienced Web3 participants.

Trust Wallet functions as both a wallet and a gateway to decentralized finance, allowing users to access blockchain-based services without relying on traditional financial intermediaries. Its architecture is designed around self-custody principles, meaning asset ownership and transaction authorization remain fully under user control at all times.

Headquartered in Dubai, United Arab Emirates, Trust Wallet has scaled into one of the most widely adopted self-custody wallets globally. The launch of Cash Deposits in the United States extends its funding infrastructure beyond bank-linked payment methods, creating a direct pathway from physical cash into a user-controlled digital asset environment. This addition strengthens the company’s positioning as a self-custody platform focused on expanding access to digital finance while preserving direct ownership.

About Coinme

Founded in 2014, Coinme is a licensed and regulated digital asset infrastructure provider specializing in enterprise-grade crypto and stablecoin enablement. The company operates a nationwide cash-to-crypto network in the United States, connecting physical retail locations with blockchain-based settlement systems to facilitate conversion from physical currency into digital assets.

Coinme provides enterprise APIs, SDKs, and embedded integration tools that allow financial services platforms, fintech applications, and digital wallets to deploy crypto and stablecoin functionality natively within their products. Through this infrastructure, partners can offer compliant crypto purchase and conversion services without building and maintaining proprietary exchange systems or regulatory frameworks from scratch.

The company’s infrastructure is structured to support compliance requirements across supported jurisdictions while enabling scalable deployment through retail cash networks and digital payment channels. Its retail footprint enables consumers to deposit physical cash at participating locations and have digital assets delivered electronically to a designated wallet address.

By powering Trust Wallet’s Cash Deposits feature, Coinme extends its infrastructure into one of the largest self-custody wallet ecosystems in the market. This integration connects regulated retail cash infrastructure with non-custodial wallet technology, enabling users to move from physical cash to blockchain-based assets within minutes while maintaining control over their funds after settlement.

Media Contact

For additional information, visit trustwallet.com.

Source Attribution

Source: Company announcement