Across LatAm, users want to protect their savings and earn yield.
Tokenized US Treasuries and funds can help.
Passage lets wallets & fintechs bring 440+ Ondo assets to their users with one integration.
What are RWAs, and why do they matter? Read more👇https://t.co/228IlI2EUW
CoinList
Crypto investment and sale platform with over $1.2B raised across 85 public token offerings
3.5/ 5
Our score
Good
Maker fee
0.25%
Taker fee
0.4%
KYC required
Yes
Accepts US customers
Yes
What is CoinList?
CoinList is a centralized cryptocurrency exchange and capital formation platform that connects investors with early-stage blockchain offerings. Founded in 2017, the platform has facilitated over $1.2B across more than 85 token sales for a user base exceeding 12 million verified accounts.
Corporate background
The service is operated by Amalgamated Token Services Inc., a digital asset infrastructure company founded in San Francisco. The firm operates primary token distributions, exchange services, and Passage infrastructure for tokenized asset issuance.
Trading, custody, and tokenized assets
CoinList combines a centralized order-book spot exchange, CoinList Pro, with a primary token sale portal and tokenized asset infrastructure called Passage. While exchange trading relies on centralized custody, the Passage layer allows users to connect self-custodial Ethereum wallets directly to purchase tokenized equities, ETFs, and primary allocations. The platform distributes tokenized US equities and pre-IPO instruments through partnerships with Superstate Opening Bell, alongside an Ondo catalog covering 400 or more tokenized assets across equities and fixed income. Ondo assets trade as total-return synthetic trackers backed 1:1 by securities at US broker-dealers, while Superstate issuances represent direct ownership claims on underlying equity.
Fee structure
CoinList Pro implements a tiered maker-taker fee schedule on spot trading. Base maker fees start at 0.25% and step down to 0% for 30-day trading volume exceeding $1,000,000. Base taker fees start at 0.40% and scale down to 0.025% once monthly volume passes $5,000,000. For onchain minting and Passage purchases, users supply their own gas fees directly in Ethereum network transactions.
Eligibility, KYC, and regional access
Passage requires identity verification for its offerings, with eligibility varying by asset and jurisdiction. Passage and CoinList manage onboarding through compliance pipelines that enforce identity and accreditation checks on an offering-by-offering basis. Availability varies by instrument and jurisdiction. Ondo tokenized assets are restricted entirely from US investors, whereas Superstate tokenized US stocks require accredited allowlisting under SEC innovation exemption rules. Token sales apply jurisdiction-specific restriction lists set by each issuing foundation.
Trade-offs and platform risks
Centralized exchange balances remain subject to custodial counterparty risk and account-level withdrawal freezes. Participation in primary token sales carries volatility and liquidity lockup conditions determined by project teams, where tokens cannot be transferred or traded until predefined vesting cliffs pass. Also, synthetic tokenized stocks bought through wrapped contracts do not convey voting or shareholder governance rights.
Best for:Primary crypto token sale participantsNon-US investors trading tokenized equitiesEthereum self-custodial wallet usersHigh-volume spot traders reaching 0% maker tiers
Pros and cons
Pros
- Over $1.2B raised across 85 token launches since 2017
- Access to 400+ tokenized real-world assets via Ondo
- Self-custodial settlement option on Ethereum via Passage
- CoinList Pro maker fees reach 0% at $1M volume
Cons
- Mandatory KYC identity verification for all accounts and sales
- Ondo tokenized equities completely exclude US residents
- Primary-sale tokens may carry transfer or trading restrictions set by the issuing project
- CoinList Pro base taker fees start relatively high at 0.40%
Our review
3.5/5
Good
CoinList offers access to primary token launches and tokenized real-world assets, but asset availability varies heavily by jurisdiction.
Operated by Amalgamated Token Services Inc., CoinList is a capital formation and exchange platform based in North America. The venue focuses on primary public token distributions, facilitating over $1.2B raised across more than 85 project sales for over 12 million verified investors. Its scope has expanded beyond crypto token launches to real-world assets, offering tokenized equities, Treasury ETFs, and commodities via partnerships with Ondo and Superstate.
Investors can participate in public sales alongside tokenized traditional equities such as Nvidia and Tesla. With its developer platform Passage, CoinList also supports non-custodial trading infrastructure where users retain custody of their private keys and trade directly on Ethereum. CoinList Pro charges a 0.25% maker fee and a 0.40% taker fee at its base tiers.
Geographic and regulatory restrictions present a recurring trade-off. Offerings require mandatory identity verification, checking user identity and accreditation status. Ondo tokenized assets, which represent wrapped economic exposure to underlying US stocks and funds, remain restricted from US investors, whereas Superstate tokenized IPOs require specialized allowlists.
CoinList suits early-stage crypto investors and non-US market participants seeking tokenized exposure to US equities and primary token allocations.
Specs
| Markets | Spot, OTC · unverified |
|---|---|
| Maker fee | 0.25% · unverified |
| Taker fee | 0.4% · unverified |
| KYC required ⓘ | Yes · unverified |
| Accepts US customers | Yes · unverified |
| Security features | KYC / AML screening, Self-custodial wallet integration · unverified |
| Earn / savings products | Yes · unverified |
Not disclosed by the provider: Coins listed, Fiat deposit methods, Proof of reserves, Staking / earn, Mobile app, Licenses & registrations, Futures & perpetuals, Max leverage (x), Copy trading, P2P market, User protection fund, Referral program.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Primary token sales
Participate directly in early-stage network token launches, public sales, and community allocations hosted by verified project teams.
CoinList Pro spot exchange
Order-book spot market with tiered maker fees beginning at 0.25% and taker fees starting at 0.40%.
Tokenized equities and ETFs
Access tokenized exposure to US shares and index funds, including single-stock trackers and Treasury products via Ondo and Superstate.
Passage integration SDK
Embed non-custodial token sales and tokenized real-world assets into EVM-compatible wallets with Passage eligibility and compliance screening.
Self-custodial RWA purchases
Connect external or embedded Ethereum wallets directly to mint and hold tokenized real-world assets while retaining private key control.
Inside CoinList
Token Sales
CoinList's primary distribution platform that lets verified investors access early-stage crypto network sales and allocations directly from issuing projects.
Tokenized Equities & Funds
An onchain marketplace offering direct and wrapped exposure to US public company stocks, Treasury ETFs, and tokenized IPOs via Ondo and Superstate Opening Bell.
Passage
A non-custodial developer platform and SDK that provides embedded compliance, allowlist verification, and settlement rails for token sales and tokenized real-world assets.
CoinList Pro
A spot exchange interface featuring central limit order books and tiered maker-taker pricing schedules for digital asset trading.
CoinList screenshots
What users say about CoinList
Community comments on Reddit praise the platform's presale offerings compared to alternatives.
Based on 2 Reddit posts and comments from the last 12 months, checked Oct 21, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used CoinList? Share your experience below.
FAQ
Who operates CoinList?
CoinList is operated by Amalgamated Token Services Inc., a digital asset company.
What trading fees does CoinList charge?
On CoinList Pro, spot maker fees start at 0.25% and taker fees start at 0.40%. Maker fees scale down to 0% for volumes above $1,000,000, while taker fees decrease to 0.025% for volumes exceeding $5,000,000.
Is KYC required to use CoinList?
Yes, all users must complete identity verification. CoinList screens participants for AML compliance, residency restrictions, and accreditation requirements depending on the offering.
Can US residents invest on CoinList?
US residents can access certain offerings, but specific asset categories carry restrictions. For example, Ondo tokenized stocks and commodities are restricted to non-US investors, while Superstate tokenized offerings require US allowlist qualification.
Who controls the private keys when trading on Passage?
Users keep custody of their own private keys. Passage connects with both external and embedded EVM wallets, meaning users sign their own transactions and pay network gas fees on Ethereum directly.
Latest from CoinList on X
Where your assets sit matters.
With Passage, tokenized stocks and funds go directly to your users’ wallets.
Your users hold the tokens themselves, in wallets they control.
Bring onchain assets to your app 👇
https://t.co/NlNJFQrMJk
With Passage, tokenized stocks and funds go directly to your users’ wallets.
Your users hold the tokens themselves, in wallets they control.
Bring onchain assets to your app 👇
https://t.co/NlNJFQrMJk
Nearly half of tokenized equity value sits with exchanges & custodians (@ArrakisFinance).
Why? They have the users.
Distribution doesn't have to stop there.
Passage lets wallets & fintechs offer yield and tokenized assets, compliantly.
Get in touch 👇
https://t.co/gIdw79qYqd
Why? They have the users.
Distribution doesn't have to stop there.
Passage lets wallets & fintechs offer yield and tokenized assets, compliantly.
Get in touch 👇
https://t.co/gIdw79qYqd
Want to offer yield-bearing assets, tokenized funds, and RWAs in your app?
Skip building compliance, custody, and distribution infrastructure from scratch.
The Passage SDK handles the heavy lifting so you can focus on your users.
Start building 👇
https://t.co/uqWH7YmsBL
Skip building compliance, custody, and distribution infrastructure from scratch.
The Passage SDK handles the heavy lifting so you can focus on your users.
Start building 👇
https://t.co/uqWH7YmsBL
US IPOs have traditionally been difficult for international investors to access.
That's changing.
Through @SuperstateInc's Opening Bell, CoinList is bringing tokenized US IPOs to eligible investors worldwide.
Join the waitlist 👇
https://t.co/4DEO2awpPJ
That's changing.
Through @SuperstateInc's Opening Bell, CoinList is bringing tokenized US IPOs to eligible investors worldwide.
Join the waitlist 👇
https://t.co/4DEO2awpPJ
Recent public posts from @coinlist, shown as published. Not reviewed or endorsed by CryptoReview.
Latest from CoinList on Telegram
CoinList Official
Join
@coinlistofficialchannel · 37.9K subscribers
Yield-bearing assets. Tokenized Stocks. Token Sales.
Apps built on Para can now offer all three through a single Passage integration.
Access tokenized assets from Ondo and Superstate, plus CoinList token sales - with Centrifuge, WisdomTree, and Securitize on the roadmap.
Building on Para? Reach out: https://airtable.com/appAjHhqZC9FIPEuR/pagRl25Yb4UNpremc/form?prefill_utm_source=telegram&hide_utm_source=true&prefill_utm_medium=social&hide_utm_medium=true&prefill_utm_campaign=passage_para_launch_2026_09&hide_utm_campaign=true&prefill_utm_content=announcement&hide_utm_content=true
Apps built on Para can now offer all three through a single Passage integration.
Access tokenized assets from Ondo and Superstate, plus CoinList token sales - with Centrifuge, WisdomTree, and Securitize on the roadmap.
Building on Para? Reach out: https://airtable.com/appAjHhqZC9FIPEuR/pagRl25Yb4UNpremc/form?prefill_utm_source=telegram&hide_utm_source=true&prefill_utm_medium=social&hide_utm_medium=true&prefill_utm_campaign=passage_para_launch_2026_09&hide_utm_campaign=true&prefill_utm_content=announcement&hide_utm_content=true
4.5K View on Telegram
You can now buy and sell tokenized US equities, ETFs, and commodities directly on CoinList via Ondo. More assets and funds coming soon 👀
Log in and browse assets here👇
https://coinlist.co/?utm_source=telegram&utm_medium=social&utm_campaign=ondo_launch&utm_content=launch_post
Log in and browse assets here👇
https://coinlist.co/?utm_source=telegram&utm_medium=social&utm_campaign=ondo_launch&utm_content=launch_post
Passage is now integrated with Ondo. 400+ tokenized real-world assets. One integration. Any fintech, neobank, or wallet can put them in front of their users. Ondo and Superstate are the start. More to come soon 👀
Read more here 👉 https://blog.coinlist.co/passage-integrates-ondo-bringing-400-tokenized-assets-to-partners/?utm_source=telegram&utm_medium=social&utm_campaign=passage_ondo_launch_2026_08&utm_content=announcement
Read more here 👉 https://blog.coinlist.co/passage-integrates-ondo-bringing-400-tokenized-assets-to-partners/?utm_source=telegram&utm_medium=social&utm_campaign=passage_ondo_launch_2026_08&utm_content=announcement
9.7K View on Telegram
Introducing Passage by CoinList - the access layer for onchain capital markets.
CoinList was founded on a belief: access to next-gen financial opportunities should be open to all. After helping launch Solana, Ondo, and USD.AI, we're expanding that mission.
The problem: Tokenized equities, funds, vaults, pre-IPO exposure, and yield products are moving onchain - but the market is fragmented across issuers, chains, and rules. Tokenizing isn't the same as distributing.
Passage connects issuers, platforms, and investors through the compliance, funding, allocation, and distribution infrastructure to bring tokenized assets onchain at scale.
→ Issuers get compliant distribution
→ Platforms get…
CoinList was founded on a belief: access to next-gen financial opportunities should be open to all. After helping launch Solana, Ondo, and USD.AI, we're expanding that mission.
The problem: Tokenized equities, funds, vaults, pre-IPO exposure, and yield products are moving onchain - but the market is fragmented across issuers, chains, and rules. Tokenizing isn't the same as distributing.
Passage connects issuers, platforms, and investors through the compliance, funding, allocation, and distribution infrastructure to bring tokenized assets onchain at scale.
→ Issuers get compliant distribution
→ Platforms get…
16K View on Telegram
Recent posts from the official Telegram channel @coinlistofficialchannel, shown as published. Not reviewed or endorsed by CryptoReview.
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