CoinsPaid, an Estonia-based crypto payment processor, today announced that it has raised its capital reserves to 5 million euros. Operating from tech-savvy Estonia, CoinsPaid increased its capital due to new compliance requirements for cryptocurrency companies.
The 5 million euro capital raise was made organically and did not require any external funding. Furthermore, this capital increase is twenty times more than the new regulation’s requirements.
“The capital increase is the first step of our strategy as CoinsPaid wants to enhance its role in the Estonian ecosystem. The company’s next step is to open an incubator dedicated to startups bringing innovative web3 payment solutions and thus contribute to the Estonian innovation landscape”.
– Max Krupyshe, CoinsPaid CEO
As a cryptocurrency payment gateway, CoinsPaid acts as a transaction facilitator and processes payments between merchants and customers.