Radar / Other
Tangem
Other Switzerland tangem.com ↗
Reviewed 2026-10-28
Our verdict
Be careful
Some important points are unclear or concerning.
- Tangem AG is a registered Swiss company (purpose: development, distribution and marketing of hardware and software), but no FINMA licence or SRO membership was found. It …
- Tangem Pay relies on third parties: Paera LLC as operator and Rain and/or Third National as issuer, with Sumsub and Elliptic as KYC/monitoring partners. Tangem's own …
- Coverage is mostly neutral to positive (e.g. reported 2025 revenue of USD 61.3m). Two security incidents are reported: a 2024 flaw where app logs exposed private keys to …
What should I do?
- Check the licence yourself in the official register of the country where it operates.
- Start small – never send more than you can afford to lose.
- Keep screenshots of all payments and conversations.
Based on public sources at the date of review. Not a finding that the company acted unlawfully; the company can respond below.
Questions about Tangem
Is Tangem licensed?
FINMA / Swiss SRO registers: licence claimed but not found in the register. Tangem AG is a registered Swiss company (purpose: development, distribution and marketing of hardware and software), but no FINMA licence or SRO membership was found. It states it is not regulated as a financial services provider and does not custody assets.
Who owns Tangem?
The Swiss commercial register (via aggregators) lists Tangem AG with identifiable board members. Shareholders are not shown. The seat moved Zug to Luzern (Sept 2025) and back to Zug (entered 5 Jan 2026), while Tangem's contact page still shows a Luzern headquarters.
Is Tangem safe to use?
RatEx42 rates Tangem Amber as of 2026-10-28: some important points are unclear or concerning. The signal is an assessment of public information, not a finding of unlawful conduct and not advice. Always check the licence in the official register yourself.
Are there complaints about Tangem?
Trustpilot shows about 1,026 reviews, mostly positive. Recurring one-star themes: slow or unresolved support (including Tangem Pay tickets), warranty disputes, a promotion/BTC reward not honoured, and in-app swaps via third-party providers not crediting. One reviewer alleges a swap partner is holding funds.
Answers are generated from this profile (reviewed 2026-10-28). Sources are linked in “The full check” below.
About
Tangem AG (UID CHE-390.112.525, founded 2017, formerly Smart Cash AG) makes NFC card and ring hardware wallets for crypto self-custody. The Swiss commercial register lists the seat as Zug (Baarerstrasse 10) after a December 2025 change from Luzern, while Tangem's contact page still names a Luzern headquarters. It states it is not regulated as a financial services provider or exchange and does not hold user assets. The Tangem Pay virtual Visa card is described as provided by Paera LLC (US), with Tangem's own pages naming Rain or Third National as issuer. No regulator warning or sanction against Tangem AG was found. Reviews are mostly positive, with complaints about support, swaps via third-party providers, warranty and promotions. A third-party support-system data incident was reported in October 2026, and a 2024 app-log flaw was reported earlier.
Read more
Tangem AG (UID CHE-390.112.525, founded 2017, formerly Smart Cash AG) makes NFC card and ring hardware wallets for crypto self-custody. The Swiss commercial register lists the seat as Zug (Baarerstrasse 10) after a December 2025 change from Luzern, while Tangem's contact page still names a Luzern headquarters. It states it is not regulated as a financial services provider or exchange and does not hold user assets. The Tangem Pay virtual Visa card is described as provided by Paera LLC (US), with Tangem's own pages naming Rain or Third National as issuer. No regulator warning or sanction against Tangem AG was found. Reviews are mostly positive, with complaints about support, swaps via third-party providers, warranty and promotions. A third-party support-system data incident was reported in October 2026, and a 2024 app-log flaw was reported earlier.
The full check
🪪LicenceLicensing & registrationCaution
Tangem AG is a registered Swiss company (purpose: development, distribution and marketing of hardware and software), but no FINMA licence or SRO membership was found. It states it is not regulated as a financial services provider and does not custody assets. The Tangem Pay card is provided via Paera LLC (US); a third-party review cites a Puerto Rico money transmitter licence for that entity.
- Company states it provides only hardware wallets and non-custodial software and is not regulated as a financial services provider or cryptocurrency exchange. 2026-01-01
- Tangem Pay is provided by Paera LLC, a US company; Tangem AG states it does not operate the Tangem Pay program. 2026-10-28
- Third-party review lists Paera LLC's money transmitter licence (NMLS 2612780, Puerto Rico OCIF); not verified against the register by Radar. 2026-08-01
- Commercial register purpose is hardware/software development and distribution, not a financial service.
- Company states it provides only hardware wallets and non-custodial software and is not regulated as a financial services provider or exchange.
- Tangem Pay is provided by Paera LLC (US); neither Tangem AG nor Paera LLC holds custody.
👥Who owns itOwnership & controlOK
The Swiss commercial register (via aggregators) lists Tangem AG with identifiable board members. Shareholders are not shown. The seat moved Zug to Luzern (Sept 2025) and back to Zug (entered 5 Jan 2026), while Tangem's contact page still shows a Luzern headquarters. Media report SBI Crypto Investment funding; a Russian local company is reported.
- Zug register entry, UID CHE-390.112.525; seat Zug (Baarerstrasse 10) after statute change 17.12.2025; last change 05.01.2026.
- Board: Storchenegger (President), Kurennykh, Gomez Moreno and others; SOGC notices of seat changes.
- Board history incl. Shulga, Liashch, Soldatova; formerly Smart Cash AG.
- Contact page lists Luzern headquarters, differing from the register seat.
- Reports SBI Crypto Investment (SBI Holdings subsidiary) invested USD 15m in 2018.
- Reports a local company in Russia and reduced Russian operations.
🏦Where your money goesBanking & payment chainCaution
Tangem Pay relies on third parties: Paera LLC as operator and Rain and/or Third National as issuer, with Sumsub and Elliptic as KYC/monitoring partners. Tangem's own pages name different issuers (Rain vs Third National), which is inconsistent. The wallet itself is non-custodial; swaps and purchases are run by third-party providers.
- Page says card issued by Rain, a Visa Principal Member; provided by Paera LLC; Sumsub and Elliptic named.
- Tangem blog names Third National as issuer, Paera LLC as provider, program managed with Rain.
- Third-party FAQ repeats the Paera / Third National / Rain structure.
- Reviewer lists Third National as issuing bank and flags the issuer conflict.
⚖️Regulator actionsRegulatory actionsNot checked yet
Not yet assessed.
📰News & reputationAdverse media & OSINTCaution
Coverage is mostly neutral to positive (e.g. reported 2025 revenue of USD 61.3m). Two security incidents are reported: a 2024 flaw where app logs exposed private keys to support, which Tangem says was fixed, and an October 2026 unauthorised access to a third-party customer support system that may have exposed names and email addresses. Tangem reportedly stated wallets, keys and funds were not affected; the latter is known only from secondary posts.
- Reports app-log flaw exposing private keys in support emails and community backlash.
- Tangem says it resolved the log vulnerability; no keys compromised, no funds lost.
- Post (11 Oct 2026) says Tangem reported unauthorised access to a third-party support system on 9 Oct 2026; names/emails possibly exposed. 2026-10-11
- Neutral business coverage of revenue growth. 2026-03-18
- Neutral coverage of the Tangem Pay rollout with Polygon.
💬Customer experienceCustomer conductCaution
Trustpilot shows about 1,026 reviews, mostly positive. Recurring one-star themes: slow or unresolved support (including Tangem Pay tickets), warranty disputes, a promotion/BTC reward not honoured, and in-app swaps via third-party providers not crediting. One reviewer alleges a swap partner is holding funds. A PissedConsumer page has a small sample with a USD 500 swap-loss complaint. These are customer allegations; no pattern of withheld funds by Tangem itself was found.
- About 1,026 reviews; one-star reviews on warranty claim, missing swap funds and BTC reward promotion (Sept-Oct 2026). 2026-10-08
- Review of Tangem Pay support with multiple unresolved tickets; Tangem reply says no matching ticket found. 2026-10-15
- Review alleging swap partner SimpleSwap holding user funds; Tangem says it cannot override a partner's decision. 2026-07-07
- Small sample (5 reviews, 2.2 stars) including a USD 500 swap loss complaint.
- Summary of Trustpilot complaint clusters: cancellations, refunds, warranty, support.
How we rate: methodology.
Similar providers
Licences & registrations
| Regulator / register | Type | Number | Status |
|---|---|---|---|
| FINMA / Swiss SRO registers | No financial-services licence or SRO membership identified; company states it is not regulated as a financial services p | Claimed, not found in register |
People & network
People (public registers)
- Patrick Storchenegger · Chairman of the board (President) · source
- Andrey Kurennykh · Member of the board of directors · source
- Juan Manuel Gomez Moreno · Member of the board of directors · source
- Konstantin Shulga · Member of the board of directors · source
- Mikhail Liashch · Member of the board / management · source
- Natalja Soldatova · Member of the board of directors · source
Version history
- 2026-10-28 Amber signal Automated profile created from public sources
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