Coinify

Coinify is a regulated cryptocurrency payment gateway and trading platform headquartered in Copenhagen, Denmark. Founded in 2014, it enables merchants to accept crypto payments from customers globally while providing consumers and institutional clients with on-ramp and off-ramp services between fiat currencies and digital assets. The platform supports Solana (SOL) as a native merchant payment currency alongside USDC and USDT on the Solana blockchain, making it a practical gateway for Solana-native businesses seeking compliant payment infrastructure.

How It Works

Coinify operates across two interconnected service lines: payments and trading. On the payments side, merchants integrate the platform through a REST API, a hosted checkout flow, or an embeddable widget that requires minimal code. The company tagline — "just copy and paste one line of code" — reflects its plug-and-play philosophy. Merchants receive fiat payouts while customers pay in crypto, shielding businesses from volatility without requiring them to hold digital assets.

On the trading side, Coinify's Trade Widget is an embeddable buy/sell interface that exchanges, wallet providers, DeFi platforms, and NFT marketplaces can embed into their own products. It handles the regulated on-ramp and off-ramp pipeline, allowing third-party apps to offer crypto purchasing without building their own compliance infrastructure. The widget supports 35+ tokens and is powered by Coinify's licensed exchange infrastructure.

The backend API uses standard REST conventions with JSON request and response bodies. Developers can create and manage payment intents, configure webhooks, set quote currency preferences, build custom checkout UIs, and manage subaccounts for multi-tenant deployments. The platform also provides sandbox environments and pre-built plugins for WooCommerce and WHMCS.

Products and Features

Payments Platform — Merchants accept 38+ cryptocurrencies across 20+ blockchains, including BTC, ETH, SOL, ADA, DOT, LINK, AAVE, and a range of stablecoins. USDC is available on eight networks (Ethereum, Solana, Polygon, Arbitrum, Base, Optimism, Avalanche, and BSC), while USDT covers five networks including Solana and Ethereum. As of January 2025, USDT on Solana is restricted to non-EEA traders per EU regulatory requirements. All cryptocurrencies are enabled by default with minimum payments as low as $5. The platform handles underpayment and late-payment edge cases automatically, and supports customer refund flows.

Pay By Link — A no-integration payment method that lets merchants generate shareable payment links without custom development. Suited to freelancers, small businesses, and any workflow where embedding a widget is impractical.

Coinify+ OTC — A white-glove over-the-counter brokerage service for large transactions. Institutional clients and high-volume traders can execute large crypto orders through a dedicated desk, outside the normal retail rate structures.

White Label Solutions — Financial institutions, exchanges, and wallet providers can deploy Coinify's technology under their own brand, retaining user separately while leveraging Coinify's compliance infrastructure.

Solana Integration

Solana (SOL) is supported as a direct merchant payment currency on Coinify's payments platform, meaning merchants can elect to receive SOL from customers as part of their payment flow. Beyond the native token, Coinify supports USDC and USDT on the Solana blockchain, reflecting the growing usage of Solana for stablecoin settlement due to its low fees and fast finality. This positions Coinify as a compliant fiat-on-ramp and merchant settlement layer accessible to Solana wallet providers, DeFi platforms, and NFT marketplaces that want to embed trading or payment functionality without building their own regulated infrastructure.

Scale and Reach

Coinify reports 60,000+ integrated businesses, 2.5 million+ registered traders, and coverage across 170+ countries. The platform integrates with 65 global payment service providers (PSPs) supporting diverse local payment methods including bank transfers, credit cards, and Apple Pay. Transaction fees on the trade side range from 0.75% to 1.5% for bank transfers to 2.5% to 3.5% for card purchases, depending on payment method and transaction size.

Regulatory and Compliance

Coinify holds registration as a Crypto Asset Service Provider (CASP) with the Danish Financial Supervisory Authority (Finanstilsynet), one of the more stringent regulatory regimes in Europe. This covers anti-money laundering, counter-terrorism financing, and KYC requirements across its product lines. The platform is described as fully MiCA compliant, and Coinify has been a signatory to the UN Global Compact corporate responsibility initiative since 2019. Compliance is positioned as a core product feature rather than overhead — a deliberate choice to appeal to banks, fintech platforms, and established merchants that cannot integrate unregulated crypto infrastructure.

Company History and Ownership

Coinify was incorporated in 2014 by Hans Henrik Hoffmeyer and Mark Hojgaard, building on virtual currency experience dating to 2010. The company was subsequently acquired by Canada-based Voyager Digital for approximately $84 million. When Voyager Digital filed for bankruptcy in 2022 amid the broader crypto market downturn, Coinify's ownership changed hands. In May 2023, Marketcom Software Ltd — a fintech investment vehicle controlled by entrepreneur Teddy Sagi — acquired Coinify ApS, integrating it into its portfolio of global payment technology platforms. Following the acquisition, management restructured costs and aligned operations with market conditions. The company reported record on/off-ramp and Coinify+ trade volumes in Q1 2024 as the crypto market recovered.

Current co-CEOs are Iben Teglman, who oversees compliance, risk management, governance, and IT security, and Minghui Shan, who leads sales, marketing, finance, and operations. Teglman brings over 15 years of compliance and financial governance experience across banking and fintech; Shan has more than a decade in fintech including prior CFO roles.

Ecosystem Position

Coinify occupies the regulated on-ramp layer of the crypto ecosystem — the compliance-heavy bridge between traditional payment infrastructure and on-chain activity. For Solana-native projects looking to offer users a way to buy SOL or Solana-based stablecoins without building a regulated exchange from scratch, Coinify's embeddable Trade Widget provides a turnkey solution. Its status as a Danish FSA-registered CASP and MiCA-compliant operator makes it particularly relevant for European Solana projects navigating the post-MiCA regulatory landscape, where unlicensed crypto services face growing barriers.