CoinsPaid Review
6.0/10The casino industry's highest-volume crypto gateway on audited paper: €9.1B processed in 2024, 20+ coins converting into 40+ fiat currencies, BitStarz on the client list, and, as of July 2026, no MiCA authorization, a void Estonian legacy license, and a self-imposed freeze on new client agreements in the EEA or elsewhere.
Our read
20+ coins converting into 40+ fiat currencies with mass payouts covers the crypto cashier brief in full, though EU clients lost USDT and DAI on 2025-03-31 and cards were never in scope.
The CASP application is undecided at Finantsinspektsioon, the legacy FVT000166 is void since 2026-07-01, the company's 2026-06-30 statement freezes new clients, accounts, agreements, and marketing in the EEA or elsewhere, and the remaining credentials are US and Canadian MSB registrations, which sit below license level.
Cashier API with rate-locked settlement, pay-by-link, seven e-commerce plugins, a public demo tour, and a white-label SaaS edition, with no public casino-platform connector list.
Rate lock at payment time, near-instant conversion to 40+ fiat currencies with bank payout, no chargebacks, no rolling reserve, and batch payouts for players and affiliates make this the strongest dimension.
Audited profitable 2024 books and the deepest casino record in the segment argue for resilience, while a single-anchor licensing posture, ownership concentrated in one registered shareholder, and the 2026 freeze argue the other way.
Published sub-1.5% pricing with free setup and no monthly fees beats most of the segment, discounted because the audited implied average near 0.36% shows how little the list price predicts a negotiated rate.
Methodology. Our own score, a weighted average of six dimensions, tilted toward licensing and trust. Crypto-gateway weighting puts .26 on compliance and .18 on trust, and that is exactly where this file bleeds: settlement (7.6) and integration (7.2) grade like a segment leader, but the July 2026 Estonian restriction and a single-anchor license posture pull the weighted result down to 6.0. Read the full methodology
- Gambling DNA no rival matches: the team built the SOFTSWISS crypto module around 2013, BitStarz has run the gateway for years, roughly 500 casinos are on it, and 68% of audited 2024 revenue came from Curacao clients.
- Scale that survives an audit: €7.9B processed in 2023 rising to €9.1B in 2024, €32.4M revenue, and €23.1M net profit per Dream Finance OÜ's audited statements published via the Estonian registry.
- Audited resilience: a loss-making 2023 turned into €23.1M net profit in 2024, positive equity restored by Q3 2024, and ISO 27001 obtained the same year with audits by 10Guards and Hacken.
- Pricing published and cheap against cards: under 1.5% per transaction, free setup, no monthly fees, no rolling reserve, and no chargebacks on the crypto rail (July 2026).
- A complete crypto-cashier stack: 20+ coins into 40+ fiat currencies with rate lock at payment time, mass payouts for players and affiliates, pay-by-link, a business wallet with OTC desk, and a white-label SaaS edition.
- MiCA limbo is the defining fact: no CASP authorization as of July 2026, the legacy FVT000166 void since July 1, and a company statement of June 30 declaring no new clients, accounts, agreements, or marketing in the EEA or elsewhere, with wind-down / continuity planning cited for existing ones.
- Ownership runs through a single registered shareholder, with company-acknowledged incubation by SOFTSWISS and a multi-entity group map spanning Estonia, a suspended Lithuanian UAB, US and Canadian registration companies, and a new Polish development entity.
- The EEA product narrowed before the freeze: USDT and DAI were delisted for EU clients on March 31, 2025 under ESMA rules, with the annual report disclosing the resulting client outflows and a sharp April 2025 revenue decline.
- A fully custodial model with the fiat off-ramp rails unnamed: funds sit with CoinsPaid until settlement, and the current site copy names no specific bank rails beyond historic SEPA evidence.
Nobody can actually sign today, so the realistic buyer is a non-EEA crypto casino already processing through CoinsPaid, or an operator willing to park it on a watch list until the Estonian CASP decision lands and onboarding reopens.
Anyone needing to onboard a crypto gateway now, EEA-facing brands above all, plus US or UK regulated operators (MSB registrations carry no gaming weight), operators wanting cards and APMs in the same contract, and compliance teams that cannot absorb the licensing limbo.
Markets & licensing
CoinsPaid's licensing story changed on a single day. Estonia's transitional period for legacy crypto licenses ended June 30, 2026, so Dream Finance OÜ's FVT000166 went void on July 1 with the MiCA CASP application still under review at Finantsinspektsioon. The company's own June 30 statement, signed by new board member Jelena Zolotenko, says it does not onboard new clients, open new accounts, enter new agreements, or market regulated services in the EEA or elsewhere while it waits. What remains active are US FinCEN and Canadian FINTRAC MSB registrations, which are AML filings rather than licenses.
Dream Finance US LLC carries FinCEN MSB registration 31000313808665 out of a Delaware registered-agent address, and the Alberta-incorporated Dream Finance Processing Inc. holds FINTRAC MSB registration M300000209. Both are registrations that impose AML duties without granting authorization, there are no state money-transmitter licenses, and neither entity shows a staffed office. For US-regulated iGaming these registrations carry no weight, with their practical role being continuity infrastructure for the group's non-EU business.
No Dream Finance entity holds an FCA cryptoasset registration, EMI, or PI authorization, and the company makes no UK claim. A UK-licensed operator has no compliant route to run player funds through this rail, which was equally true before the Estonian cutoff.
- MiCA CASP (Estonia)EEA
- Crypto-asset service provider authorization under Regulation (EU) 2023/1114 · Application pending at Finantsinspektsioon · activities self-restricted per the Jun 30, 2026 statement · no decision as of Jul 3, 2026
- Estonia FVT000166 (legacy)Estonia
- Virtual-currency service license under the pre-MiCA regime · Dream Finance OÜ · void since Jul 1, 2026 when the transitional regime ended
- US FinCEN MSBUSA
- Money services business registration, an AML filing, no license attached · Dream Finance US LLC (Delaware) · registration 31000313808665
- Canada FINTRAC MSBCanada
- Money services business registration, an AML filing that stops short of a license · Dream Finance Processing Inc. (Alberta corp. 1000987855) · registration M300000209
- Lithuania (suspended)Lithuania
- Dream Finance UAB crypto-asset services · All services temporarily suspended · site kept for mandatory legal information only
Licensing tier: Until June 2026 this stack read as a normal offshore-crypto setup built on an Estonian license. That license is gone, the replacement is pending, and the only tier that fits is 'restricted pending authorization', a posture the company itself declared.
Not disclosed.
No regulated-market list applies to a crypto gateway holding no gambling-supplier licenses. Reach has always come from serving the operators' own licenses, overwhelmingly Curacao, which produced 68% of audited 2024 revenue.
The freeze is self-declared and, as worded on June 30, 2026, global: no new clients, accounts, or agreements in the EEA "or elsewhere" pending the CASP decision. Existing clients are supported under what the statement calls wind-down / continuity planning.
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.
The gateway integrates as an API inside the operator's own cashier, with real-time status updates and settlement at the exchange rate locked when the payment is made. Around it sit pay-by-link for off-session deposits and affiliate payouts, mass-payout batching, and plugins for WooCommerce, Magento 2, PrestaShop, Drupal, Joomla, OpenCart, and Shopify. Merchants clear KYB before signing, integration and setup are free, and a white-label Crypto SaaS edition lets a PSP or large operator run the same stack under its own brand. The company publishes a documentation portal, a system status page, and a public interactive demo tour (July 2026).
Onboarding is marketed as a manager response within minutes, then a personalized offer, KYB, agreement, and integration, with no end-to-end duration published. As of July 2026 the sequence is theoretical for new clients, since the company states it is not entering new agreements pending its CASP decision.
Products & tools
One custodial rail carries everything: a gateway that sits inside the operator cashier, pay-by-link for off-session deposits and VIP top-ups, mass payouts for players and affiliates, a business wallet with an OTC desk behind it, and a white-label SaaS edition of the whole stack.
Crypto Payment Gateway
The core product since 2019, with roots in the crypto module the same team built for SOFTSWISS around 2013: 20+ cryptocurrencies accepted in the operator cashier, instant conversion into 40+ fiat currencies at a rate locked when the payment is made, and settlement to the merchant bank account.
- 20+ cryptocurrencies including BTC, ETH, LTC, TRX, SOL, plus stablecoins USDT, USDC, EURC, and USDG (July 2026)
- Exchange-rate lock at payment time across 1,700 pairs
- Instant crypto-to-fiat conversion with payout to the merchant bank account in 40+ currencies
- No chargebacks and no rolling reserve on the crypto rail
- Fees published at under 1.5% per transaction, with volume discounts (July 2026)
- USDT and DAI unavailable to EU clients since March 31, 2025 under ESMA stablecoin rules
Mass Payouts & Pay-by-link
Batch crypto payouts to players and affiliates plus pay-by-link flows for off-session deposits, VIP top-ups, and one-off affiliate settlements, advertised as near-instant on the iGaming page.
- Mass payouts to players and affiliates in one batch
- Payouts land near-instantly (July 2026)
- Pay-by-link for deposits outside the cashier session
- Minimum amounts per coin published on the confirmations-and-limits page
Business Wallet & OTC Desk
A no-integration business wallet for holding and moving crypto balances, with an OTC desk for large conversions, sitting on custodial infrastructure that the audited statements show holding client assets via Binance, Kraken, and Finery.
- Business wallet usable without an API integration
- OTC desk for large settlements
- Client crypto of €117.4M held via Binance, Kraken, and Finery at 2024-12-31 (audited statements)
- Client assets segregated, re-affirmed in the June 30, 2026 statement
Crypto SaaS & PoS
A white-label edition of the processing platform sold as Crypto SaaS, plus a retail point-of-sale product launched March 5, 2026 as part of the pivot toward commerce.
- Ready-to-use payment infrastructure under the buyer's own brand
- Crypto PoS for retail launched March 5, 2026
- Same coin, conversion, and settlement stack as the direct gateway
The history
Sales decks get rewritten for every deal. A dated record doesn't.
The brand claims roots in 2014 and 11+ years of blockchain work, and the team's origin story is concrete: they built the crypto module for SOFTSWISS as early as 2013. The current corporate structure dates to 2019, when Dream Finance OÜ began operating as a processor in Tallinn and CEO Max Krupyshev, by his own account invited into the business by SOFTSWISS founder Ivan Montik, launched CoinsPaid as a standalone company. Two brands run on that entity, CoinsPaid and CryptoProcessing, and by 2026 the group map spanned a suspended Lithuanian UAB, a Delaware LLC with a FinCEN registration, an Alberta corporation with a FINTRAC registration, and a new Polish development company.
Brands & clients on the platform
Corporate
Leadership
Milestones
- 2013
The founding team builds the crypto payments module for SOFTSWISS, the heritage both companies acknowledge. The CoinsPaid brand dates itself to 2014.
- 2019
Dream Finance OÜ starts operating as a crypto processor in Tallinn. Max Krupyshev launches CoinsPaid as a standalone company after Ivan Montik, on Krupyshev's own account, invites him into the business.
- 2023
The year closes at a €24.1M net loss, the low point before the 2024 recovery.
- 2024
ISO 27001 is obtained and positive equity returns in Q3. The audited year ends at €9.1B processed and €23.1M profit.
- 2025
USDT and DAI are delisted for EU clients by March 31 under ESMA rules, with disclosed client outflows and an April revenue drop.
- 2026
Jelena Zolotenko joins the Dream Finance OÜ board on June 23 with a MiCA mandate. On June 30 the company publishes its restriction statement and the PHH Group partnership announcement. FVT000166 goes void July 1 with the CASP application still pending and the Lithuanian entity suspended.
Where they're pushing next
- Non-EEA crypto-first operators (the continuing business while EEA onboarding is frozen)
- Retail and e-commerce checkout (Crypto PoS launched March 2026, PHH Group groundwork announced June 2026)
- US and Canada as continuity lanes via MSB registrations instead of licensed expansion
Awards & recognition
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.
CoinsPaid vs alternatives
No two vendors describe themselves the same way, which makes their own claims hard to line up. Every name here answers the same fields, so you can see where this one sits against the closest alternatives.
| Attribute | CoinsPaid | CoinGate | Confirmo | B2BINPAY |
|---|---|---|---|---|
| Founded | 2014 | 2014 | 2014 | 2017 |
| Team | 200+ | 50+ | — | 500+ |
| US market | Restricted | Restricted | Restricted | Restricted |
| Pricing | Public | Public | Not published | Public |
| Currencies | 40+ | 3+ | — | 2+ |
| Coins | 20+ | 20+ | 10+ | 350+ |
| EMI / PI licenses | — | Lithuania | Ireland | — |
| Settlement | Near-instant crypto-to-fiat at a rate locked when the payment is made (Jul 2026) | Weekly on Standard, weekly or on-request on Enterprise | Bank-account settlements that can be fully automated and recurring, with near-instant crypto settlement (Dec 2025) | Instant to merchant crypto accounts, T+1 for fiat (USD/EUR) |
| Instant payouts | Yes | — | — | Yes |
The take: CoinGate is the direct licensed alternative, a MiCA CASP via Lithuania since December 2025 that can legally onboard EEA-facing operators today, and Confirmo holds the same card through Ireland. B2BINPAY runs the offshore lane from Mauritius and El Salvador without the gambling pedigree. CoinsPaid still owns the deepest casino track record and the only audited multi-billion volume figure among them, so the sensible play is to sign a licensed rival now and revisit if EFSA approves the CASP application.
Settlement & commercials
CoinsPaid publishes pricing. Those figures are below, and final terms still land in the contract.
Per-transaction fee on processed volume: under 1.5% (Jul 2026), with reduced rates for large volumes, free setup, no monthly fees, no rolling reserve, and per-coin minimum amounts on the confirmations-and-limits page. The audited 2024 statements imply an average realized fee of roughly 0.36% (€32.4M revenue on €9.1B volume), so headline pricing overstates what big merchants pay.
Commercially this is one of the cleanest offers in the segment: published sub-1.5% fees, nothing upfront, nothing monthly, no reserve, and volume discounts that audited numbers show can run below 0.4%. The asterisk is availability, since the company stated on June 30, 2026 that it is not entering new client agreements anywhere pending its Estonian CASP decision, so terms are academic for a new merchant until that lifts.
The deal
Money movement
Onboarding path
- 1Check the regulatory gate first: per its June 30, 2026 statement the company is not onboarding new clients or signing new agreements in the EEA or elsewhere while the Estonian CASP application is pending, so a new integration starts only if that posture lifts
- 2Contact sales via cryptoprocessing.com, where a manager response within minutes is the advertised norm
- 3Receive a personalized offer and clear KYB, which is mandatory for every merchant
- 4Sign with the relevant Dream Finance entity and confirm which one contracts you, given the Estonian restriction, the suspended Lithuanian UAB, and the North American registration-only companies
- 5Integrate the cashier API, pay-by-link, or an e-commerce plugin, with setup and integration free of charge
- 6Configure accepted coins, fiat settlement currencies, and mass-payout flows with the dedicated account manager, then go live with rates locked at payment time
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.
Frequently asked
The things operators actually ask before signing.
Can I sign with CoinsPaid right now?+
No, by the company's own words. The June 30, 2026 statement signed by board member Jelena Zolotenko says Dream Finance OÜ does not onboard new clients, open new accounts, enter new client agreements, expand scope for existing clients, or actively market regulated services to clients in the EEA or elsewhere while its Estonian CASP application is under review. The wording is global, with no EEA-only carve-out. Existing clients are supported under what the statement calls wind-down / continuity planning.
Is CoinsPaid licensed under MiCA?+
No. The CASP application sits with Estonia's Finantsinspektsioon with no decision issued, and the legacy Estonian license FVT000166 became void on July 1, 2026 when the transitional period ended. Only one company, Lightspark Payments Europe AS, had an Estonian CASP authorization by that date. The group's other credentials, a US FinCEN MSB registration (31000313808665) and a Canadian FINTRAC MSB registration (M300000209), are AML registrations rather than licenses and carry no weight for regulated gaming.
Are CoinsPaid and CryptoProcessing.com different companies?+
No. Both are brands of the same Estonian entity, Dream Finance OÜ. The two sites split the positioning in 2026: coinspaid.com covers blockchain payments for global commerce, while cryptoprocessing.com runs the live iGaming vertical. Same rail, two storefronts.
How does fiat settlement work at CoinsPaid?+
Deposits convert instantly at an exchange rate locked when the payment is made, across 1,700 pairs, and settle to the merchant bank account in any of 40+ fiat currencies, so the operator never carries the volatility window. The custody model is fully custodial until settlement, with client assets segregated and €117.4M of client crypto held via Binance, Kraken, and Finery at the end of 2024 per the audited statements. One EEA caveat: USDT and DAI have been unavailable to EU clients since March 31, 2025 under ESMA stablecoin rules, which removes the most-used payout coin exactly where the regulatory story is hardest.
What does CoinsPaid charge?+
Published pricing, which is rarer than it should be in this segment: a transaction fee under 1.5% with volume discounts, free setup and integration, no monthly fees, no rolling reserve, and no chargebacks (July 2026). The audited 2024 numbers imply an average realized fee near 0.36% (€32.4M revenue on €9.1B volume), so large merchants clearly negotiate far under the rack rate.