Trust Wallet launches US cash-to-crypto feature

Trust Wallet has launched Cash Deposits in the United States, allowing users to convert physical cash into digital assets directly within its self-custody wallet without needing a bank account, debit card or custodial balance.

The feature, powered by Coinme, enables users to deposit cash at more than 15,000 retail locations nationwide and receive stablecoins or other digital assets such as BTC and SOL straight into their Trust Wallet.

“Millions of people in the U.S. earn and live on cash, yet most digital financial tools still assume all have a bank account or card,”

Said Trust Wallet chief executive, Felix Fan.

Fan added that Cash Deposits gives users “a fast, direct way to turn it into digital assets that you fully control – no intermediaries holding your funds, and no reliance on traditional banks.”

The rollout targets cash-reliant workers including gig and service employees, with funds typically arriving within minutes and the service available across 48 U.S. states and Puerto Rico excluding New York and Vermont, while stablecoin purchases exclude Texas.

Coinme chief executive and co-founder Neil Bergquist said the partnership builds on its compliant nationwide infrastructure that bridges physical cash with digital assets, enabling users to move from cash to crypto at scale within a self-custody environment.

By integrating Coinme’s retail cash on-ramp with its 220 million-user wallet, Trust Wallet is positioning itself to broaden access to decentralised finance and tokenised payments without reliance on traditional banking intermediaries.