CoinsPaid has handled €16 billion in total, despite a falling crypto market

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Oct 21, 2022, 03:00 ET

TALLIN, Estonia, Oct. 21, 2022 /PRNewswire/ -- CoinsPaid , the largest crypto payment ecosystem, has processed over €16 billion worth of crypto* in total and continues growing by nearly €1 billion per month in the declining market.

In Q3 2022, CoinsPaid completed 4.9 million transactions worth approximately €3 billion compared to Q3 2021, whereby it handled close to 2.5 million transactions with a volume of about €1.5 billion. Q3 2022 figures show 2X the volume of transactions and 1.94X the number of transactions of the same period in 2021. Remarkably, the average transactions of both quarters remained almost the same at a mere difference of €47.

Over the last years, the CoinsPaid ecosystem has seen outstanding growth: a 27x increase in volume and a 16x increase in the number of transactions from 2019 to 2021. It has processed a total of 28.2 million transactions, and the volume of transactions stands at €16 billion. Notably, the gateway processes about 8% of global on-chain Bitcoin transactions.

"In Q3, we did a great job in product and business development, adjusting the business logic and strategy to the current market situation and empowering our products with new features. This year our team has grown to 200 members. While most companies like Robinhood, Coinbase, and Gemini face layoffs, we have 50+ open vacancies. And I believe that perseverance and team spirit will allow us to set new records this year," said Max Krupyshev, Co-Founder and Leader of CoinsPaid.

While the crypto winter caused noticeable effects on the crypto market, CoinsPaid continues to scale up its growth. The comparison between Q3 2021 and Q3 2022 shows a 100.5% and 94% growth rate in the volume of transactions and number of transactions, respectively. Notably, among the most popular tokens, such as LTC, BTC, USDT, and ETH, BTC made more than 50% of all transactions.

*Disclaimer:

All financial, statistical, and other data regarding the clients/merchants, conducted transactions, etc., has been provided as aggregate from activities of all legal entities operating under the brand of Coinspaid, specifically: (I) Dream Finance OÜ, Harju maakond, Kesklinna linnaosa, Rotermanni tn 6, 10111, Tallinn, Estoni; (II) Dream Finance UAB, Gynejq St. 14-65, Vilnius, Lithuania and (III) Dream Finance S.A. DE C.V., 3A Calle Poniente Y, 71 Avenida Norte, Col. Escalon, edif. Lexincorp, office No 3698, San Salvador, El Salvador.

SOURCE CoinsPaid