Bitpace Review
5.6/10Bitpace is a crypto payment gateway for iGaming and e-commerce merchants, run by SG Veteris in Ozan Ozerk's payment group on legacy EU VASP registrations, with offshore Canadian and Comoros entities behind settlement.
Our read
- Institutional custody through Fireblocks and BitGo, a public sandbox an engineer can open pre-contract, plugins, and a ready-made Corefy connector.
- 70-plus cryptocurrencies in, with settlement in seconds to minutes after confirmation.
- A white-label build that lets a PSP front the rail under its own brand.
- Virtual-asset registrations in Estonia (FVT000552), Bulgaria, and Lithuania.
- No chargebacks and no rolling reserve on the crypto rail, with an OTC desk for larger conversions.
- No MiCA CASP anywhere, and the EU footing is legacy VASP registrations in the MiCA transition rather than an authorization that survives the cutoff.
- The money-movement base is offshore: a Canadian FINTRAC MSB registration (an AML filing that grants no license) and a Comoros MISA license.
- Ownership runs through SG Veteris, founded inside Ozan Ozerk's payment group, with control passing to Ahmet Cemal Dedeoglu in 2018 and entities in Bulgaria, Estonia, Lithuania, Canada, and the Comoros.
- Fees are set per client and quoted on request.
Offshore or crypto-first operators that want institutional custody, a public sandbox, white-label, and a Corefy route, and can run their own compliance diligence on an offshore, non-CASP counterparty.
EU, UK, or US-regulated operators that need a MiCA CASP, anyone who needs a counterparty with a full compliance file, and buyers who need a rate card or a casino reference.
Markets & licensing
Bitpace is the working brand of SG Veteris, and its license base is legacy and offshore, with nothing under MiCA. The EU footing is a set of pre-MiCA virtual-asset registrations: SG Veteris Estonia OU on the Estonian FIU register under license FVT000552, SG Veteris Europe EOOD registered with Bulgaria's NRA, and UAB SG Veteris Lithuania supervised by the FCIS. Behind the money movement sit two offshore entities: Q500 Canada Inc., registered as a money-services business with FINTRAC, and Chiral Limited in the Comoros, holding a Mwali International Services Authority license. None of Bitpace, SG Veteris, Q500, or Chiral holds a MiCA CASP authorization, and the Estonian FVT registration is a legacy license in the transition that closes MiCA grandfathering.
No Bitpace or SG Veteris entity holds a US money-transmitter license or any state footprint, and the licensing base points offshore, away from the US. A US-facing operator has no Bitpace entity to contract under state rules.
SG Veteris Limited was registered with the FCA as an agent until October 2020, and that registration has since lapsed, with no current FCA authorization for the Bitpace entities. A UK-facing operator has no live FCA permission to rely on here.
- Estonia (FIU) VASPEstonia
- Virtual-asset service provider registration under the pre-MiCA regime · SG Veteris Estonia OU · license FVT000552 · legacy, in MiCA transition
- Bulgaria (NRA) VASPBulgaria
- Virtual-asset service provider registration · SG Veteris Europe EOOD · UIC 206635600
- Lithuania (FCIS) VASPLithuania
- Virtual-asset service provider registration, supervised by the FCIS · UAB SG Veteris Lithuania · 305940990
- Canada (FINTRAC) MSB + Comoros (MISA)Canada / Comoros
- An AML money-services-business registration plus an offshore brokerage/clearing license · Q500 Canada Inc. (FINTRAC MSB) and Chiral Limited (Comoros MISA) · offshore money-movement base
Licensing tier: The EU VASP registrations are legacy pre-MiCA credentials in the transition, with no CASP, and the money-movement base leans on a Canadian MSB registration and a Comoros license. Bitpace holds no gambling-supplier license and no EMI.
No CASP, so no MiCA passport.
Methods & rails
What you can reach
Payout rails
Processing features
Integrations & engineering
One contract and one API instead of a separate deal per studio, feed, or PSP. Here's what connects, how fast, and on what stack.
Operators integrate against a documented REST API, plugins, or a hosted checkout, take crypto in across 70-plus coins, and settle to USD, EUR, or USDC with auto-conversion, while custody runs on Fireblocks and BitGo. A public sandbox lets engineering build and test before a contract, mass payouts and an OTC desk cover the outbound and treasury side, and a white-label deployment lets a PSP run the rail under its own brand. Orchestrator-side operators can take the ready-made Corefy connector instead of building direct.
Days rather than months via the API and plugins.
Products & tools
A crypto payment gateway: 70-plus coins in through a hosted checkout or REST API, institutional custody via Fireblocks and BitGo, mass payouts and an OTC desk on top, and a white-label build for PSPs.
Crypto Payment Gateway
The core product: accept 70-plus cryptocurrencies through a hosted checkout, plugins, or a REST API, with automatic conversion and settlement to USD, EUR, or USDC, aimed at e-commerce and iGaming merchants that want crypto in without holding it.
- 70-plus cryptocurrencies accepted, settling in USD, EUR, or USDC
- Auto-convert so the merchant does not carry price risk
- Custody through Fireblocks and BitGo institutional infrastructure
- No chargebacks and no rolling reserve on the crypto rail
- RESTful API, plugins, and a hosted checkout, with integration measured in days
- A ready-made Bitpace connector listed by orchestrator Corefy
Global Settlements
The money-movement side: settlement in seconds to minutes after blockchain confirmation, deposits and withdrawals in crypto or fiat, mass payouts, an OTC desk, and funds held in safeguarding accounts.
- Settlement in seconds to minutes after confirmation
- Deposits and withdrawals in crypto or fiat (USD, EUR, USDC)
- Mass payouts and an OTC desk for larger conversions
- Funds held in safeguarding accounts
- 20-plus fiat currencies quoted for settlement
- Digital-asset swap between supported coins
White Label
The platform play: a white-label deployment of the gateway under the partner's own brand, plus a documented REST API and a public sandbox so a PSP or operator can build and test the whole flow before signing.
- White-label gateway under the partner's own brand
- RESTful API with documentation and plugins
- Public sandbox mirroring the live environment
- Digital wallets, billing, and a live dashboard
- Corefy orchestrator connector for pre-built routing
The history
Longevity in this industry usually comes with a change of owner somewhere in it.
The company traces to Dr. Ozan Ozerk's Lydiax around 2016, with the blockchain services later gathered under the Bitpace brand in a 2023 rebrand of SG Veteris. CEO and co-founder Anil Oncu built the gateway for business crypto acceptance, and a sibling brand, Koinal, runs card and on-ramp services on the same SG Veteris group. Control of SG Veteris sat with Ozan Ozerk until 2018 and passed to his partner Ahmet Cemal Dedeoglu after that. The group operates from London, Sofia, Tallinn, and Toronto.
Corporate
Leadership
Milestones
- 2016
Ozan Ozerk founds Lydiax, the origin of the blockchain services later branded Bitpace.
- 2018
Control of SG Veteris passes from Ozan Ozerk to Ahmet Cemal Dedeoglu.
- 2020
SG Veteris Limited's FCA agent registration in the UK lapses in October.
- 2023
The group consolidates its blockchain services under the Bitpace brand and pivots to B2B crypto payments.
Where they're pushing next
- Offshore and crypto-first merchants (e-commerce and iGaming) on the existing VASP and offshore base
- PSPs via the white-label build and the Corefy connector
Longevity and ownership
Switching vendors is expensive, which makes the company's staying power part of the purchase. What the contract says about your data decides how expensive an exit gets.
Bitpace vs alternatives
Most buyers in this market shortlist three or four vendors long before they take a single sales call.
| Attribute | Bitpace | CoinsPaid | NOWPayments | B2BINPAY |
|---|---|---|---|---|
| Founded | 2016 | 2014 | 2019 | 2017 |
| Team | — | 200+ | 22+ | 500+ |
| US market | Restricted | Restricted | Restricted | Restricted |
| Pricing | On request | Public | Public | Public |
| Currencies | 20+ | 40+ | 21+ | 2+ |
| Coins | 70+ | 20+ | 350+ | 350+ |
| Settlement | Seconds to minutes after blockchain confirmation, with auto-conversion to USD, EUR, or USDC | Near-instant crypto-to-fiat at a rate locked when the payment is made | Per transaction, in minutes | Instant to merchant crypto accounts, T+1 for fiat (USD/EUR) |
| Instant payouts | Yes | Yes | Yes | Yes |
Settlement & commercials
Bitpace prices per deal, so exact figures land in the contract rather than on a public rate card.
Per-client negotiated fees quoted in a private online panel.
The deal
Money movement
Onboarding path
- 1Scope the build from the public docs and open the sandbox to test the flow before contracting
- 2Integrate the REST API, a plugin, or the hosted checkout, or take the ready-made Corefy connector if you run that orchestrator
- 3Agree fees
- 4Go live and reconcile against the dashboard and webhook events
Support & account management
You can't demo service before you sign, so what a vendor puts in writing is the only floor you can hold it to.