What are your plans for the future development of the token, its use cases, and its value?
Our plans largely relate to the support and expansion of each of our ecosystem’s offerings. First, we want to release an updated, simplified B2C wallet with all the necessary functions to use the product as a crypto neobank. The second step would be tieing the product’s economy to the utility of the token, and after that, when the ecosystem closes, we’ll actively promote our token in conjunction with the rest of our ecosystem. Indeed, the CPD token will act as a unifying force, and therefore, such an endeavour will ensure its development.
In Q3 of 2022, CryptoProcessing.com completed 4.9 million transactions. This is almost double the 2021 figure of 2.5 million. Regardless of the ‘crypto winter’, the number of payments is increasing, which will further drive the development of the company, and, therefore, the CPD token.
How about the upcoming CEX listings? Any progress?
While the volume of payments in crypto is most surely on the up, it’s not the right time to list our token on any of the major centralized exchanges. Noting the state of the market and investor confidence, we’re looking to focus on making each aspect of our ecosystem as stable as possible so that we’re prepared for the next bull run.
Moreover, it’s still unclear which exchanges are in it for the long run, given the recent collapse of FTX. Having said that, we are currently waiting for the exchange industry to stabilise, as we are not willing to risk the confidence of our customers.
What is now in development?
While CryptoProcessing.com takes center stage as our flagship solution, we’re heavily investing in the other aspects of our ecosystem. One of the key priorities for the upcoming year is the upgrade of our B2C Crypto Wallet. The service is still in the beta launch stage, but we are currently rebuilding the architecture, integrating the necessary functionality for convenient account replenishment and crypto onboarding to provide the smoothest crypto experience.
As we brand ourselves as crypto missionaries, one of the ley objectives for us is to close the education gap. Thus, we are planning to actively develop our CoinsPaid Media, which has already established itself as a reliable source of crypto news, insights, and educational content.
It also goes without saying, that constant improvement and upgrades of the existing CoinsPaid offerings are a never-changing priority, so we plan on further refinement of CryptoProcessing.com, business wallet, OTC Desk, etc.
Are any partnerships planned with other projects?
We hold an active interest in the endeavors of each of our clients and partners in the industry. We’re expecting to onboard a whole range of new partners throughout 2023, and with crypto adoption booming like never before, we’re prepared for a wave of new direct clients too.
As an example, Mirai Flights became our partner earlier this year. The service specialises in connecting clients to private jets in Europe and the Middle East, offering a time and place of departure suited to the client — they even have a one-click payment option for up to 300,000 EUR. Through utilizing crypto as a means of payment, not only has Mirai been able to save up to 75% in fees, but 10% of their frequent fliers are already switching to crypto. Since integrating our crypto processing solution, Mirai Flights’ revenue has increased by a considerable 30%. We’re positive that many more case studies like this one will pop up as the year goes on.
Did the bankruptcy of FTX and many crypto organizations affect the choice of crypto-using companies? Have you had a decrease in your customers or transactions?
TL;DR: Short term — bad, long term — good. The FTX debacle, while in the short-term rather terrifying, will have positive long-term effects on regulation within the crypto industry and transparency. We’re firm believers that new technologies always face teething issues. Oftentimes, the rot ought to be cauterized before new growth can begin. In terms of our statistics, Q3 of 2022 saw 4.9 million transactions completed. This is almost double the 2021 figure of 2.5 million. Regardless of the ‘crypto winter’, the number of payments is increasing.
Image: CoinsPaid growth 2020–2022
On top of that, we have already investigated the impact of the negative news sentiment on CoinsPaid processed volumes. As it turns out, it’s practically non-existent. Based on our internal statistics for the Terra Luna collapse period, merchants and their clients continue to use crypto payments as usual.
Image: Impact of the Terra Luna Crisis
The Coinspaid platform has been operating for a long time. The CPD token has been trading in the market for about 1 year. Will there be a use case for CPD token holders? Will there be a benefit such as CPD staking on the Coinspaid platform?
The CPD token already has a range of utilities. Mostly, it allows our B2B clients to reduce fees by up to 50% and, therefore, processing costs by simply holding or promoting the token. Of course, in the current market, we’re trying not to focus on the development of our token — rather, we’re looking to grow and stabilise each aspect of our ecosystem to ensure the longevity of the token, its utility, and its value. As soon as the bulls run, we’ll be ready to provide new use cases to token holders.
I would like to know about the project’s plans to attract more investors to achieve a greater flow of transactions and thus increase the utility of the CPD token.
CoinsPaid is a self-funded multinational company. We do not have investors and we are not looking to take any on. This is important for maintaining our mission as crypto missionaries and not as a profit-munching mega-corp.