Since 2013, CoinPayments has been a pioneer in the crypto space being the first payment processor to provide support for Litecoin and Ethereum. While other payment gateways focused purely on Bitcoin, CoinPayments saw an opportunity to become the leading altcoin payment processor in the crypto space.
Since inception, CoinPayments has seen a year over year growth of approximately 10x, culminating in close to $1 billion in business transaction volume and an additional $1.3 billion in consumer transaction volume in 2017!
Today, CoinPayments supports over 1,000 altcoins for a userbase of over 2.3 million business and user accounts across 182 countries. The easy to use platform offers pre-built plugins and integrations for all the major ecommerce platforms, including Shopify, Woocommerce and Magento. With hosted wallets, conversion and fiat settlement functionality, CoinPayments leads the way in furthering the adoption of cryptocurrencies.
“My vision is to help shift the global money supply from institutions run by private interests to an open, predictable and transparent money system.”
Alex Alexandrov – CEO, CoinPayments
CoinPayments is pleased to announce a $30 million Series A round of funding via the Bnk to the Future global online investment platform. This new funding will allow CoinPayments to further their vision of cryptocurrency adoption and banking the unbanked by expanding the platform along with the addition of several new features.
Some of the current problems facing the adoption of cryptocurrency usage include price volatility,centralization risk, cryptocurrency purchase and conversion and the ability to find appropriate businesses that accept cryptocurrency payments. CoinPayments will use the funding raised from this Series A round to:
- Expand and improve the CoinPayments platform and mobile app
- Integrate fiat settlements into the platform to allow businesses to overcome the price volatility
- Decentralize the storage of private keys to create two independent but inter-operable systems
- Simplify the conversion of cryptocurrencies for users via a one-click instant conversion feature
- Create a global decentralized marketplace bringing together merchants and buyers to transact in cryptocurrencies
More information about the $30 million Series A fund raise can be found on the Bnk to the Future official listing here: https://bnktothefuture.com/pitches/coinpayments-2