CoinsPaid Reports Its Audited Financial Results by Crowe Global

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Mar 14, 2023, 06:00 ET

TALLINN, Estonia, March 14, 2023 /PRNewswire/ -- The largest crypto payment ecosystem, CoinsPaid, passed an annual audit by Crowe DNW Ltd ("Crowe"), which is a member of Crowe Global, a Swiss verein and a leading network of independent accounting firms. In 2021, while the global economy was recovering after the COVID outbreak of the previous year, CoinsPaid grew in total sales revenues, increasing by 203% compared to 2020.

In the year 2021, amidst the economic turbulence, the company's total income minus taxes and expenses, or net income, increased by 411% compared to the year 2020. Then, net profitability, profitability of revenues, increased by 43.64% compared to the same year. Also, the company's profitability in relation to its total assets (ROA) increased by 5.89% in 2021. The data shows that despite the post-COVID economic decline and an ongoing recovery, the company continues its growth.

Crowe auditors confirmed the increase of users' funds by 3 times in 2021. Importantly, CoinsPaid does not use the funds of its customers for investment or other purposes. Transparency stands for the company's ability to responsibly manage assets, giving investors a trustable look into a business' health. Currently, transparency is the best regulator that provides trustful asset management between a company and the public.

"This year, the team worked truly diligently and productively under a harsh business environment. It is indeed a pleasure to share our positive financial outcomes achieved in the fiscal year 2021. We are deeply grateful to our clients for their invaluable support and will continue to make great efforts to accelerate our strategic transformation and deliver better performances in the near future," – says Max Krupyshev, CEO of CoinsPaid.

About CoinsPaid

CoinsPaid is the leading crypto payment ecosystem worldwide that provides solutions for individual clients and enterprises. The gateway processed 34 million transactions worth €19 billion in total. Founded in 2019, CoinsPaid is a licensed and regulated company with its own security team headquartered in Estonia. The company has 800+ merchant clients worldwide, an estimated 10 million end users, and has 200+ people working on the project in 15 countries globally.

SOURCE CoinsPaid