Interesting! Crypto Payment Processor CoinsPaid Announces Impressive Performance Numbers
CoinsPaid and CryptoProcessing Performance
On October 25, 2022, CoinsPaid, along with CryptoProcessing, released a press statement claiming its position as the largest crypto payment ecosystem. According to the announcement, the platform has processed over €16 billion in cryptocurrency to date, growing at a rate of nearly €1 billion per month, even amidst a declining market. During Q3 2022, CoinsPaid reportedly handled 4.9 million transactions worth approximately €3 billion.
Key Data
| Attribute | Details |
| Trading Names | CoinsPaid, CryptoProcessing |
| Business Activities | Crypto exchange & OTC desk operator |
| High-risk crypto payment processor | |
| Domains | CryptoProcessing.com |
| CoinsPaid.com | |
| Social Media | LinkedIn, Facebook, Instagram, Twitter |
| Legal Entities | Dream Finance OÜ (Estonia), Dream Finance UAB (Lithuania), Dream Finance S.A. (El Salvador) |
| A.R. Merkeleon GmbH (Austria), Skylock Investments Ltd (Cyprus) | |
| Jurisdictions | Estonia, Austria, Cyprus, El Salvador |
| Authorization | FIU crypto license no FVT000166 |
| Related Individuals | Alexander Horst Riedinger (LinkedIn), Maksym Krupyshev (LinkedIn), Andrei Koposov (LinkedIn), Frédéric Georges Hubin |
Recent Announcements
Q3 2022 Highlights:
- Transaction Volume Growth:
- Nearly doubled compared to Q3 2021.
- Processed approximately 2.5 million transactions worth €1.5 billion in Q3 2021, growing to 4.9 million transactions worth €3 billion in Q3 2022.
- Average Transaction Value:
- Minimal change in average transaction value, with a difference of just €47 between the two quarters.
- Global Reach:
- Visitors to CoinsPaid and CryptoProcessing websites hail from South America, Europe, and Russia.
Claims by CryptoProcessing
CryptoProcessing, a subsidiary of CoinsPaid, asserts its position as the #1 crypto processor globally based on transaction volume. According to a detailed Medium article:
- Transaction Totals:
- Over €13 billion processed since inception.
- Services over 800 merchants worldwide.
- Zero Chargebacks:
- Crypto transactions effectively mitigate chargeback issues commonly faced in high-risk sectors like online gambling and casinos.
- Customer Base:
- Merchants reportedly serve over 10 million customers.
Ownership and Leadership
Austrian Ownership:
- CoinsPaid and CryptoProcessing are operated by Dream Finance OÜ, an Estonian entity with an FIU-issued crypto license.
- Beneficial owner: Alexander Horst Riedinger, who also owns A.R. Merkeleon GmbH in Austria, a software company specializing in crypto solutions. This company is 50% owned by Riedinger and 50% by Skylock Investments Ltd, registered in Cyprus.
Leadership Team:
- Maksym Krupyshev:
- Co-founder and CEO of CoinsPaid.
- A Ukrainian residing in Berlin.
- Suspected to be connected to Skylock Investments Ltd.
- Andrei Koposov:
- Chief Technology Officer (CTO) at both CoinsPaid and A.R. Merkeleon GmbH.
Conclusion
CoinsPaid’s reported performance in Q3 2022 highlights impressive growth metrics, solidifying its position in the crypto payment processing market. However, its involvement in high-risk sectors like online gambling raises questions about regulatory oversight and operational transparency.
Share Information
If you have any information regarding CoinsPaid, CryptoProcessing, or related activities, please report it via our whistleblower platform, Whistle42. Your insights are crucial for ensuring transparency and accountability in the crypto payment industry.
