I

Introducing crypto payment processor Global DLT Exchange with Jubiter and Coindeck

payment group payset with Jubiter and Coindeck
Spread financial intelligence

Coindeck (www.coindeck.com) is a new high-risk crypto payment processor brand operated by Slovakia-based Global DLT Exchange S.R.O., which also operates Jubiter (www.jubiter.com). The latter was the trade name of Estonian Jubiter Technologies OÜ, which was licensed until February 2021. After many scam involvements, the company lost or renounced its license. Jubiter was transferred to Global DLT Exchange S.R.O. but continued to surface as a scam facilitator. Frequently together with BridgerPay. Most recently, we also found both in the GoldBachInvest scam.

Scam warning

On 6 September 2021, the Spanish financial market regulator CNMV issued an investor warning against GoldBachInvest. In this scam, VISA network partner BridgerPay and Coindeck facilitate payment processors (see report here). Already before, we have exposed BridgerPay and Jubiter in scams as facilitators. We have certainly only seen the tip of the iceberg.

The Estonian venture

In May 2018, Jubiter received the FIU license to operate a crypto payment processor and exchange. In March or April 2019, Jubiter announced a Bitcoin-based debit card in a joint effort with PowerCard21, a member of the PowerPay21 FinTech Network headed by the former Wirecard director Ruediger Trautmann. The card no longer exists. And Jubiter no longer has an FIU license either.

Jubiter and paysent

Israeli Rudi Reager, born in April 1978, is the beneficial owner of FCA-regulated Pay Set Limited d/b/a payset (www.payset.io) through UK-registered Capitalium Limited (Companies House). His partner Ami Inbar is also one of the owners, he claims on his LinkedIn profile. Inbar has an interesting past in the SPAM scene and was investigated by the FBI some 15 years ago. Actually, payset is an Israeli payment venture.

Reager is also one of the founders and managers of Estonian Jubiter. Pay Set Limited was incorporated in August 2018 and was licensed by the UK Financial Conduct Authority (FCA) in June 2020 with reference number 900920 as a payment processor and e-money institution. However, the FCA has imposed the restriction that electronically issued money cannot be used to purchase cryptocurrencies. Thus, the Jubiter venture made sense.

The regulated Bratislava entity

The new operator in Bratislava, Global DLT Exchange S.R.O., was registered in September 2020 in the Slovakian companies register with the company no 53300416. The 76-year old German Richard Brockhume has been installed as director. He is also the sole registered director of Jubiter Technologies OÜ. Evidently, he is the monkey only for the ultimate beneficial owners. The Slovakian FIU has granted the new Slovak entity a crypto license OU-BA-OZP1-2021/000409-5. Moreover, the company is registered as a money transmitter with the U.S. FinCen with the MSB registration number 31000184534354 in July 2021.

Prelimiary Conclusion

Overall, this payment processor group appears well positioned with licenses from financial market regulators in the EU (Slovakia), the United Kingdom and its registration with the U.S. FinCEN. Both for the FIAT as well as for the Crypto area. It is, therefore, noteworthy that together with the notorious scam facilitator BridgerPay, they process the funds of scams like GoldBachInvest, thus violating KYC/AML.

Leave a Reply

Your email address will not be published. Required fields are marked *