Alex Alexandrov was born in Ukraine and moved to Canada at a young where he started a bitcoin mining venture around 2012. Back then, the Bitcoin (BTC) price was around $4. He later discovered crypto payment processor CoinPayments, which had several dozen merchants on its platform. Alex and his then partner Jason Butcher bought CoinPayments in 2013. Since then, CoinPayments saw explosive growth with a transaction volume of more than $2 billion a month, 115,000 merchants, and three million users. The online magazine Entrepreneur called Alexandrov the “Crypto Czar.”
In 2019, Alex Alexandrov and his partner Farkhad Shagulyamo founded Velas (www.velas.com), “an ecosystem of decentralized financial products that allow anyone to feel the benefits of blockchain technology.” Velas issued the Velas token (VLX), which has a market capitalization of $110 million (27 June 2022). According to CrunchBase, CoinPayments received some $900,000 in Series B funding. The latest investors were Disrupt Ventures and Andrei-Dragos Popescu.
Between November 2019 and March 2022, Jason Butcher served as the CoinPayments CEO. He is also the founder and CEO of the licensed US money services broker and merchant services provider Parallel Payments (www.parallelpayments.com). In 2018, Jason Butcher also founded HODLtech OÜ, an Estonian-based crypto payment processor that lost its crypto license in June 2022! Butcher was succeeded by Dennis Pederson as CoinPayments CEO.
CoinPayments informed that effective 15 June 2022 it is providing its crypto payment services jointly with Venture Star UAB in Lithuania, replacing Estonian HODLtech OÜ of its former CEO Jason Butcher.