Key Data

• Trading Name: CryptoProcessing
• Legal Entity: Dream Finance OU, Dream Finance UAB, Dream Payments Sp. z o.o, Dream Finance S.A.
  
• Activities: crypto payment processor
• Location: Estonia. Lithuania, Poland, El Salvador
  
• Regulations: Registered crypto firm in Estonia and Lithuania
  
• Key People: Max Krupyshev (LinkedIn)
• News: CryptoProcessing
• Latest Updates: 18 Sept 2024

CryptoProcessing is one of the two trading names of the regulated Estonian crypto payment processor Dream Finance OÜ, the Lithuanian Dream Finance UAB, and the Polish Dream Payments Sp. z o.o. This company also runs the crypto payment brand and platform CoinsPaid (PC42 profile). Max Krupyshev (LinkedIn) is the co-founder and CEO.

Offering

Cryptoprocessing.com provides licensed, security-approved crypto payment services to hundreds of online merchants. It is one of the largest cryptocurrency gateways in the world and a leader in crypto processing for the iGaming industry, serving dozens of popular platforms such as BitStarz and TrueFlip.

CryptoProcessing is aimed exclusively at online merchants and offers a business wallet, payment gateway, OTC, and FIAT-crypto exchange services. Dabi primarily addresses crypto processing to high-risk merchants in the online gaming and forex segments.

Compliance Issues

CryptoProcessing, a subsidiary of CoinsPaid, has been implicated in several compliance-related issues. Reports indicate that the company has facilitated transactions for high-risk sectors, including illegal online gambling platforms. Notably, CryptoProcessing has been associated with Pokerdom, an online gambling site primarily targeting Russia and Belarus, regions subject to Western sanctions. This association raises concerns about the company’s adherence to international sanctions and anti-money laundering (AML) regulations. Furthermore, CryptoProcessing’s involvement in processing payments for unregulated online casinos suggests potential lapses in due diligence and compliance protocols, highlighting the need for stringent oversight and robust compliance measures within the crypto payment processing industry.

Read the CryptoProcessing Report

Conclusion and Rating

Based on the available information, CryptoProcessing by CoinsPaid would be rated Orange.

Reasoning:
While the platform offers robust crypto payment solutions and strong security measures, it faces significant compliance challenges, including allegations of money laundering, tax fraud, and insufficient regulatory adherence.