After cutting ties with Binance, Checkout.com says crypto firms account for about 4% of its total processing volume.
Credit card payment processor Checkout.com views crypto as a meaningful space for merchant relationships, but needs to continue to focus on regulatory growth, Dufetel said at TechCrunch Disrupt.
In January 2022, Checkout.com was valued at $40 billion, but by the end of the year it collapsed its internal valuation at 72.5% to $11 billion. Changes in valuations for fintech companies aren't a-ha moments, Dufetel said.
The 11-year-old startup powers payments for a range of industries like e-commerce, fintech, gaming, and a few of crypto firms like MoonPay, Crypto.com, Blockchain.com, Circle and OKCoin. In August, it drew attention for lowering ties with Binance, the world's largest cryptocurrency exchange, because of worries about the firm's alleged problems with anti-money laundering, sanctions and compliance controls.