PayBis

History and Founding

PayBis was founded in 2014 in the United Kingdom by Innokenty Isers and Konstantins Vasilenko, who aimed to create a cryptocurrency exchange that prioritized customer trust and regulatory compliance. Over the next decade, the company expanded its product lineup beyond simple buying and selling, eventually moving its headquarters to Riga, Latvia, where it operates under the legal entity SIA Paybis Europe. The founders' vision of a trusted platform has driven steady growth, culminating in cumulative transaction volumes exceeding six billion dollars by early 2026.

Business Model

PayBis generates revenue through transaction fees on its retail exchange, subscription or usage fees for its B2B payout and infrastructure services, and potentially through spreads on crypto trades. The company serves two distinct customer segments: retail users who want a straightforward way to buy and sell cryptocurrencies with fiat, and businesses—particularly in iGaming, advertising, and freelancing—that need reliable crypto-to-fiat payment rails. The B2B offerings, such as PayBis Send and white-label infrastructure, provide higher-margin recurring revenue and help the company reduce dependence on volatile retail trading volumes.

Products and Platforms

PayBis operates several key products. PayBis Exchange is the original retail platform, supporting instant buy/sell of cryptocurrencies using over 50 payment methods in 180+ countries. PayBis Wallet is a mobile app that combines a custodial wallet with exchange features for on-the-go access. PayBis Send is an API-based B2B solution that automates crypto payouts in USDT, targeting high-risk sectors that need to pay freelancers, affiliates, and partners across borders. The company also offers B2B Payment Infrastructure—white-label tools that enable businesses to integrate crypto deposits, withdrawals, and stablecoin settlements without building their own systems.

Market Position and Competition

PayBis positions itself as a stable, regulation-friendly alternative to pure crypto exchanges. Its focus on compliance and customer service has earned it a near-perfect Trustpilot rating and recognition in the iGaming industry, including the 'Best Crypto Payment Provider' award at SiGMA Eurasia 2026. Competitors include other crypto-to-fiat gateways like MoonPay, Simplex, and Coinbase Commerce, but PayBis differentiates through its tailored B2B payout solutions and strong uptime record of over 90 percent. The company primarily serves markets in Europe, Asia, and Latin America, and has recently moved to expand into the United States through a partnership with Zero Hash.

Partnerships and Recent Developments

In 2025, PayBis saw its transaction volumes more than triple, driven by institutional adoption and stablecoin demand. The company partnered with Zero Hash in 2026 to gain access to the US market, leveraging Zero Hash's regulatory infrastructure to offer its services to American businesses. PayBis also notably won the 'Best Crypto Payment Provider' award at the AIBC Eurasia Awards in 2026, reinforcing its presence in the iGaming vertical. With over 250 active business partners, the company is actively scaling its B2B client base.

Leadership and Culture

The executive team is lean but experienced. CEO and Co-Founder Innokenty Isers brings over 15 years of online business experience. CTO Miha Miklic oversees technology strategy, while CMO Paul Afshar and CPO Valera Barmin lead marketing and product development. Acting Head of Sales is co-founder Konstantins Vasilenko. The company emphasizes transparency, rapid onboarding, and customer-centric support, which has contributed to its strong reputation and consistent growth.