Cryptocurrency processing platform CoinsPaid has shared an update on its Q3 (Q3) performance, revealing that it saw a twofold growth in transaction volume compared to last year’s period.

According to the Tallinn-based cryptocurrency startup, it completed 4.9 million transactions in the third quarter, a figure of approximately €3 billion.

So far this year, the digital currency ecosystem has been experiencing what is called the crypto winter, a period characterized by falling prices of crypto assets. While crypto winters cannot be separated from the industry, this year’s downturn has been remarkably devastating considering its volatility and correlation with the traditional industry.

Some exchanges and lending platforms generally saw lower transaction volumes and bouts of bankruptcy, compounding an already challenging situation in which the market was plunged. For CoinsPaid, the story has been very different, with growth seen in its main market segments.

“In the third quarter, we did a great job on product and business development, adjusting 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, base of coins, and Gemini are facing layoffs, we have over 50 open positions. And I believe that perseverance and team spirit will allow us to set new records this year,” said Max Krupyshev, Co-Founder and Leader of CoinsPaid.

While CoinsPaid operates from Europe, its global influence notably processes up to 8% of international Bitcoin on-chain transactions. The growth that the firm has experienced over the years has made it process more than 16,000 million euros since its creation.

For the time being, CoinsPaid is looking to build on its existing influence as a data authority in the industry, and by maintaining trust among its clients that its business has continued to grow despite the market downturn, it can continue to meet its goals for all of its clients. and investors in all areas.

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