Key Data

• Trading Name: CPS Transfers
  
• Legal Entities: CPS Transfers Limited
  
• Activities: Payment Institution
  
• Regulations: authorized by UK FCA
• Key People: Dmitrii Guniashov (Co-founder and CEO), Alexey Siderov (CFO), Pavel Makarenko (CTO)
  
• Latest news: CPS Transfers
  
• Latest update: Aug 3, 2024

Background

CPS Transfers Limited is a company registered in England and Wales and is authorized by the Financial Conduct Authority (FCA) as a Small Payment Institution (SPI) with reference number 776056. It was founded in 2016 by Russian nationals. The CPS Group also includes the crypto payment processor CryptoPay (profile), which is operated via registered crypto services providers in Estonia and Lithuania.

Financial Situation

The CPS Group has a share capital of €375,000 in the entities in Lithuania and Estonia. The Lithuanian entity showed a net profit of more than €1.16 for 2023, and the Estonian entity showed a taxable turnover of just under €2.2 million for 2024.

The UK entity showed net assets of around GBP 361,000 at the end of 2022, although the company had generated a profit in the years before that. In this respect, the CPS Group appears to have sufficient capital for its activities.

The Offering

The business model of CPS Transfer is likely to consist primarily of managing the debit cards issued via CryptoPay and the associated transactions. The website does not provide any further information about other services.

Rating Conclusion

The CPS Group should have a solid financial base and a profit-generating business model. The companies in the Group are authorized for their activities. We have, therefore, placed CPS Transfer on our Green Compliance and Green Risk list.