The leading cryptocurrency payment gateway CoinsPaid has demonstrated record growth in 2022. The company’s overall processed volume reached €12 billion and keeps growing by almost €1 billion each month, making CoinsPaid the largest crypto processor by monthly volume.
In 2022, the number of processed transactions hit 6.5 mln and the operations volume approached the €4.5 billion mark. These figures are several times higher than those for the same period in 2021.
Outstanding results 4th year in a row
Since 2018, CoinsPaid’s metrics have been doubling each year. In 2018, the company processed 561k transactions worth €210 mln. At the end of 2021, it completed 9.2 mln transactions worth €5.65 bln. Overall between 2018 and 2021, the volume in euro equivalent grew 27x, while the number of transactions increased by 16x.
The total number of transactions processed by CoinsPaid reached 21 mln with the volume hitting the €12 bln mark. The gateway now processes around 8% of all on-chain Bitcoin transactions. Considering the 2022 numbers, the company may very well set a new record by the end of the year.
$CPD, CoinsPaid’s own utility token
CoinsPaid has also introduced its own utility token. Holding $CPD and paying the processing fees with it allows the company’s clients to receive discounts of up to 50% on the commissions charged by CoinsPaid.
To get the maximum discount, merchants need to keep a large amount of tokens on their balance. CoinsPaid already serves over 800 merchants, and this number keeps increasing; as the volume grows, there will be a steadily increasing demand for $CPD.
What’s next?
In Q1 2022, the company obtained two positive legal opinions on $CPD from trusted law firms and successfully integrated the token into its main processing solution. Starting from Q2, business customers can take advantage of the loyalty program and pay their commissions in $CPD.
In Q3, token functionality will be integrated into CoinsPaid’s personal…
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