Gov. Pritzker announces expansion of Coinflip, leading cryptocurrency ATM operator

CHICAGO, Ill. (WMBD) — Gov. JB Pritzker announced the expansion of Coinflip, the leading cryptocurrency ATM operator, at a press conference in Chicago Tuesday.

CoinFlip, the world’s leading cryptocurrency ATM operator and the fastest-growing company in Chicago, joined Governor JB Pritzker and local leaders to announce a new 44,000 square-foot headquarters located in the Old Post Office downtown.

“We’re proud to have founded CoinFlip in Chicago which has been our home for the last six years and are excited to announce we’re growing. While CoinFlip is proud to operate in 47 states, no other state is pioneering forward-thinking initiatives like Illinois that will make it not only a leader in cryptocurrency but a clear choice for our long-term plans,” said Ben Weiss, CEO of CoinFlip. “We’re committed to doing our part for the future of cryptocurrency as well as for the Chicago community – and that’s why we’re making long-term plans to grow our team here while investing in programs to help local communities benefit from the expansion of cryptocurrency technologies.”

CoinFlip was named the 2021 fastest-growing company in Chicago by Crain’s Chicago Business. Over the past few years, the locally-based company has expanded to over 2,700 ATMs across the country, maintaining a strong record of regulatory compliance to ensure the safety and security of its customers.

“Illinois has long been a global leader in financial services. And today we are building on that legacy, working to build a cryptocurrency regulatory framework that’s best in the nation and expand access to capital for innovative companies,” said Governor JB Pritzker. “Congratulations to CoinFlip on recently being named by Crain’s as the fastest-growing company in Chicago, and thank you for your commitment to this city and state. I’m so proud you are part of the fabric of our community – and I’m absolutely thrilled you are doubling down in Illinois.”

The new 44,000 SF HQ will double the size of CoinFlip’s operations, paving the way for the company to increase its Chicago-based staff across all divisions and departments to add a minimum of 30 new jobs, while retaining at least 138 jobs currently held in the Chicago office.

The company signed a 12-year lease and will make an overall $17 million capital investment. CoinFlip qualified for an EDGE agreement offered by the Illinois Department of Commerce and Economic Opportunity (DCEO) to support companies making large-scale capital investments and long-term job creation commitments in Illinois communities.

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August 24, 2021 at 05:01PM

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