Beam

Beam, operated by M-Cubed Labs, Inc., provides a streamlined service for individuals to convert selected cryptocurrencies and stablecoins into US dollars. Once converted, the funds are directly deposited into users' bank accounts or debit cards. This process is designed to be safe, secure, and efficient, ensuring that transactions are handled with care and speed.

To get started with Beam, users must have cryptocurrency stored in a digital wallet. After completing onboarding, which includes identity verification, users can link their bank account or debit card to facilitate transactions. The service is currently available to residents in most US states, with exceptions for New York, Louisiana, and Alaska.

Beam aims to offer quicker, more secure, and potentially less expensive transactions compared to traditional cryptocurrency exchanges. It charges a fee of 3% for cryptocurrency transactions and 1% for stablecoin conversions. Although Beam does not yet provide an on-ramp for deposits, plans to introduce this functionality are in development.

For businesses and developers, Beam offers additional services and partnership opportunities, making it a versatile option for various users seeking to navigate the cryptocurrency landscape.