CoinPayments is a pioneering crypto payments venture operating a comprehensive platform and a mobile app that supports storage and payment for Bitcoin and over 1,200 other cryptocurrencies. CoinPayments was founded in 2013 by Alex Alexandrov and Jason Butcher in Caymen Islands.
The operating entities used to be CoinPayments Inc. in Caymen Islands and the Estonian HODLtech OÜ. CoinPayments informed that effective 15 June 2022 it is providing its crypto payment services jointly with Venture Star UAB in Lithuania, replacing Estonian HODLtech OÜ of its former CEO Jason Butcher. HODLtech OÜ lost its license a few days ago! Venture Star would be authorized to provide virtual currency deposit wallet and exchange services.
According to a July 2021 SEC filing of the Caymen Islands-registered blank check company Oxbridge Acquisition Corp, and other reports CoinPayments has processed more than $10 billion since its inception from 115,000 merchants and more than one active million wallets (screenshot left). In summer 2021, CoinPayments allegedly processed $2B worth of payments per month.
Between November 2019 and at least July 2021, Jason Butcher has served as the CoinPayments CEO. Butcher is also the founder and CEO of Parallel Payments (www.parallelpayments.com) in April 2011. This licensed US money service broker and merchant service provider offers a digital infrastructure for online payments and money services to institutions, consumers, and businesses. In 2018, Jason Butcher also founded HODLtech OÜ, an Estonian-based crypto payment processor that lost its crypto license in June 2022!
The CoinPayments platform has already integrated 4 of the leading stablecoins: Tether (USDT), True USD (TUSD), Gemini Dollar (GUSD), and USD Coin (USDC). CoinPayments boasts of its partnership with almost all leading e-commerce platforms, including Magento, Prestashop, Shopify, WooCommerce, Opencart, and lots more. On Trustpilot, CoinPayments holds a 2.9-star rating with a corresponding “Average” trust level. Although it is a fact that scammers also use CoinPayments, we include the crypto payment processor in our “Orange Compliance” risk.