Crypto payment ecosystem and digital assets processor CoinsPaid has released its quarterly review for Q3.
According to the analysis, the firm has processed transactions worth €16 billion in cryptocurrencies, approximately $15.7 billion. In addition, CoinsPaid is still on a growing trend reaching almost €1 billion per month amidst the crypto winter.
This €16 billion was derived from 28.2 million transactions across several months. In Q3 2021, the number of processed transactions were almost adding up to 2.5 million worth around €1.5 billion. Compared to Q3 2022, the figures have doubled with a little above 4.8 million transactions (a 94% increase from Q3 2021) which are worth €2.9 billion.
Amidst a dwindling crypto market which has lost over 65% of its cap, compared to its all-time high in November 2021, CoinsPaid has remained bullish and shows stable quarterly and annual growth. The crypto payment juggernaut believes that efficient companies with a well-designed stable business model are inclined to advance amid the bearish trend and market cap shrinking.
CoinsPaid Inches Towards Strategic Growth
Between 2019 to 2022, the volume of CoinsPaid’s transactions has multiplied by 27 times while the number of transactions has also jumped by 16 times. Popular tokens like Litecoin (LTC), Bitcoin (BTC), Tether (USDT), and Ethereum (ETH) made up 50% of all the processed transactions. Remarkably, the gateway processes about 8% of global on-chain BTC transactions.
Equally, CoinsPaid talked about its rebranding which was done to celebrate the status of a multi-product company in addition to the introduction of new products to meet the needs of its customers. The firm has also announced 20 available job openings in its Web3.0 and marketing teams as it continues to employ new talents defying the crypto winter.
Max Krupyshev, Co-Founder and Leader of CoinsPaid said, “In Q3, we did a great job in product and business development, adjusting the business logic and strategy to the current market situation and empowering our products with new features.
This year our team has grown to 200 members. While most companies like Robinhood, Coinbase, and Gemini face layoffs, we have 50+ open vacancies. And I believe that perseverance and team spirit will allow us to set new records this year.”