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The cryptocurrencies are being introduced into the payment industry widely — an exclusive interview with CoinsPaid CMO

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The cryptocurrencies are being introduced into the payment industry widely — an exclusive interview with CoinsPaid CMO

by IndustryTrends December 1, 2022

While the broader crypto sector has largely been affected by the prevailing crypto winter, the payments industry continues to embrace the introduction of cryptocurrencies into the market. 

A recent report from Deloitte indicated that at least 75% of US merchants intend to accept crypto payments within the next couple of years. More than 50% of large retailers grossing over half a billion in revenue have already invested at least a million to enable crypto payments and offer more flexible options for customers. It’s become evident that any payment company that isn’t taking this market seriously will be at a significant disadvantage in the future.

To this end, CoinsPaid, a leading crypto payment ecosystem that’s processed more than 16 billion euros worth of virtual currency payments, is pushing the envelope to satisfy the everyday needs of consumers using crypto.

We conducted an exclusive interview with Dmitry Ivanov, the company’s Chief Marketing Officer, to discuss the state of the crypto payments industry and the role CoinPaid intends to play in its future.

Dmitry Ivanov joined CoinPaid in 2018 and has played a key role in helping the company become a giant in the crypto payments space.

 

Tell us more about the company, its specialization, and the services that your company offers

CoinsPaid is the leading crypto payment ecosystem in the world. The company was launched as an internal product of the SOFTSWISS group eight years ago, and it’s projected to become the largest crypto payment ecosystem by the end of 2022.

We have products for every audience, from business-to-consumer (B2C) to business-to-business (B2B). The CoinsPaid ecosystem includes CryptoProcessing.com, a crypto processing solution; the CPD token, a utility token aimed at reducing transaction commissions; SaaS, B2C, and B2B wallets; an over-the-counter (OTC) exchanger; a crypto hot wallet system for businesses; and CoinsPaid Media.

 

CoinsPaid has operated on the market for a long time. What are the main results so far? What has contributed to your success?

We have processed over 16 billion euros in cryptocurrency with 28.2 million transactions processed in total, and we are growing at a rate of nearly 1 billion euros per month. Our payment gateway handles approximately 8% of all global on-chain Bitcoin transactions.

In the Q3 of 2022, we completed 4.9 million transactions worth approximately 3 billion euros, which represents twice the volume of transactions and about 1.94 times the number of transactions we completed in the same period previous year. During the third quarter of 2021, we processed close to 2.5 million transactions worth approximately 1.5 billion euros. 

The CoinsPaid platform is leveraged by more than 800 merchants with more than 10 million end users.

The company’s ranks have also grown significantly. We now have an international team of more than 200 employees. And we credit our success to this team — by quickly identifying pain points and offering solutions to our target audience, they’ve made effective management decisions. And just as importantly, they are rigorously complying with the core mission of CoinsPaid and its partners, who’ve contributed immensely to our prosperity.

 

What is your main product, and how does it benefit the crypto market?

That would be CryptoProcessing.com. It’s a payment gateway that allows companies to accept more than 20 cryptocurrencies as payment and convert them into fiat. It also allows companies to withdraw funds to a bank account. 

CryptoProcessing.com best suits businesses that accept payments frequently and in large volumes. It also works well for stores whose customers have unique accounts or identifiers in the system — for example, a personal account in an advertising service.

Our team at CoinsPaid handles all the technical aspects of integrating crypto payments to allow businesses to begin accepting crypto quickly. We make paying with crypto as simple as paying with credit cards. Furthermore, crypto transactions on our platform are faster than international bank transfers and have lower commissions. 

Crypto payments also mean no chargebacks and allow businesses to work with the 5-7% of customers who don’t have bank cards. It also allows companies to reduce commissions for receiving payments by up to 80%.

 

In which regions has it gained popularity the most? How do you connect it with crypto adoption trends?

We’ve gained the most traction in Europe, particularly in countries such as Malta, Cyprus, and Ukraine, which have high crypto adoption and have become financial and IT hubs.

A recent report from Gemini on crypto adoption indicates that Europe is lagging slightly behind the rest of the world, with only 17% taking to crypto. However, the continent has the highest number of crypto-curious people, with more than 58% of Europeans showing interest in the sector. Additionally, six of the top ten countries with the highest adoption of crypto among high-income earners are European. This means there’s much room for growth for crypto in Europe.

We’re also actively expanding our operations in Latin America, where we see significant potential. Our optimism is backed by data from Chainalysis’ 2022 crypto adoption index. According to the report, Latin Americans received more than $560 billion in crypto from July 2021 to June 2022, which is a 40% increase from last year’s total.

In countries like Brazil, two-thirds of the population have indicated a willingness to use crypto more regularly in their daily transactions.

 

Who are your main clients?

Our core clients are primarily businesses with a large customer base that need CryptoProcessing by CoinsPaid to accept crypto payments easily. These could be marketplaces, service aggregators, or payment service providers. Currently, we are also actively entering into partnerships with large businesses and market giants. I believe that such mutually beneficial collaborations can boost mass crypto adoption further and inspire new developments in the industry.

Now, we are the world’s number one crypto payment gateway, with more than 1 billion euros transacted on our platform every month.

We intend to grow further by entering travel, real estate, IT, and aviation spaces.

 

How do you see the future of your ecosystem and the future of the crypto industry in the next 5 years?

On our part, we intend to finish unifying all of our products into a single, synchronized ecosystem. We also expect to expand our functionality to include a crypto neobank.

As far as the wider crypto ecosystem is concerned, I hope that in the future, players who break the rules, such as using customer funds or working with illegal entities, will be forced out of the crypto industry. At CoinsPaid, we never use customer funds for any investment or trading activities, they’re well protected and stored in our wallets, with “cold storage” being included.

I also hope that the crypto industry will have a single business regulation and a higher entry threshold, which will go a long way in helping eliminate scammers.

Finally, I expect crypto adoption, especially its use as a payment method, to grow exponentially.


The cryptocurrencies are being introduced into the payment industry widely — an exclusive interview with CoinsPaid CMO

by IndustryTrends December 1, 2022

While the broader crypto sector has largely been affected by the prevailing crypto winter, the payments industry continues to embrace the introduction of cryptocurrencies into the market. 

A recent report from Deloitte indicated that at least 75% of US merchants intend to accept crypto payments within the next couple of years. More than 50% of large retailers grossing over half a billion in revenue have already invested at least a million to enable crypto payments and offer more flexible options for customers. It’s become evident that any payment company that isn’t taking this market seriously will be at a significant disadvantage in the future.

To this end, CoinsPaid, a leading crypto payment ecosystem that’s processed more than 16 billion euros worth of virtual currency payments, is pushing the envelope to satisfy the everyday needs of consumers using crypto.

We conducted an exclusive interview with Dmitry Ivanov, the company’s Chief Marketing Officer, to discuss the state of the crypto payments industry and the role CoinPaid intends to play in its future.

Dmitry Ivanov joined CoinPaid in 2018 and has played a key role in helping the company become a giant in the crypto payments space.

 

Tell us more about the company, its specialization, and the services that your company offers

CoinsPaid is the leading crypto payment ecosystem in the world. The company was launched as an internal product of the SOFTSWISS group eight years ago, and it’s projected to become the largest crypto payment ecosystem by the end of 2022.

We have products for every audience, from business-to-consumer (B2C) to business-to-business (B2B). The CoinsPaid ecosystem includes CryptoProcessing.com, a crypto processing solution; the CPD token, a utility token aimed at reducing transaction commissions; SaaS, B2C, and B2B wallets; an over-the-counter (OTC) exchanger; a crypto hot wallet system for businesses; and CoinsPaid Media.

 

CoinsPaid has operated on the market for a long time. What are the main results so far? What has contributed to your success?

We have processed over 16 billion euros in cryptocurrency with 28.2 million transactions processed in total, and we are growing at a rate of nearly 1 billion euros per month. Our payment gateway handles approximately 8% of all global on-chain Bitcoin transactions.

In the Q3 of 2022, we completed 4.9 million transactions worth approximately 3 billion euros, which represents twice the volume of transactions and about 1.94 times the number of transactions we completed in the same period previous year. During the third quarter of 2021, we processed close to 2.5 million transactions worth approximately 1.5 billion euros. 

The CoinsPaid platform is leveraged by more than 800 merchants with more than 10 million end users.

The company’s ranks have also grown significantly. We now have an international team of more than 200 employees. And we credit our success to this team — by quickly identifying pain points and offering solutions to our target audience, they’ve made effective management decisions. And just as importantly, they are rigorously complying with the core mission of CoinsPaid and its partners, who’ve contributed immensely to our prosperity.

 

What is your main product, and how does it benefit the crypto market?

That would be CryptoProcessing.com. It’s a payment gateway that allows companies to accept more than 20 cryptocurrencies as payment and convert them into fiat. It also allows companies to withdraw funds to a bank account. 

CryptoProcessing.com best suits businesses that accept payments frequently and in large volumes. It also works well for stores whose customers have unique accounts or identifiers in the system — for example, a personal account in an advertising service.

Our team at CoinsPaid handles all the technical aspects of integrating crypto payments to allow businesses to begin accepting crypto quickly. We make paying with crypto as simple as paying with credit cards. Furthermore, crypto transactions on our platform are faster than international bank transfers and have lower commissions. 

Crypto payments also mean no chargebacks and allow businesses to work with the 5-7% of customers who don’t have bank cards. It also allows companies to reduce commissions for receiving payments by up to 80%.

 

In which regions has it gained popularity the most? How do you connect it with crypto adoption trends?

We’ve gained the most traction in Europe, particularly in countries such as Malta, Cyprus, and Ukraine, which have high crypto adoption and have become financial and IT hubs.

A recent report from Gemini on crypto adoption indicates that Europe is lagging slightly behind the rest of the world, with only 17% taking to crypto. However, the continent has the highest number of crypto-curious people, with more than 58% of Europeans showing interest in the sector. Additionally, six of the top ten countries with the highest adoption of crypto among high-income earners are European. This means there’s much room for growth for crypto in Europe.

We’re also actively expanding our operations in Latin America, where we see significant potential. Our optimism is backed by data from Chainalysis’ 2022 crypto adoption index. According to the report, Latin Americans received more than $560 billion in crypto from July 2021 to June 2022, which is a 40% increase from last year’s total.

In countries like Brazil, two-thirds of the population have indicated a willingness to use crypto more regularly in their daily transactions.

 

Who are your main clients?

Our core clients are primarily businesses with a large customer base that need CryptoProcessing by CoinsPaid to accept crypto payments easily. These could be marketplaces, service aggregators, or payment service providers. Currently, we are also actively entering into partnerships with large businesses and market giants. I believe that such mutually beneficial collaborations can boost mass crypto adoption further and inspire new developments in the industry.

Now, we are the world’s number one crypto payment gateway, with more than 1 billion euros transacted on our platform every month.

We intend to grow further by entering travel, real estate, IT, and aviation spaces.

 

How do you see the future of your ecosystem and the future of the crypto industry in the next 5 years?

On our part, we intend to finish unifying all of our products into a single, synchronized ecosystem. We also expect to expand our functionality to include a crypto neobank.

As far as the wider crypto ecosystem is concerned, I hope that in the future, players who break the rules, such as using customer funds or working with illegal entities, will be forced out of the crypto industry. At CoinsPaid, we never use customer funds for any investment or trading activities, they’re well protected and stored in our wallets, with “cold storage” being included.

I also hope that the crypto industry will have a single business regulation and a higher entry threshold, which will go a long way in helping eliminate scammers.

Finally, I expect crypto adoption, especially its use as a payment method, to grow exponentially.

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