Notorious high-risk payment processor iPaytotal launches unregulated Estonian CryptoMatix

Until recently, Aditya Williams was the registered director of the Estonian iPayTotal OÜ but was replaced in March 2021 by the Estonian nominee director Monika Sild. Currently, iPaytotal does not have a license from the Estonian FIU to operate a crypto payment platform. Nevertheless, the company is the operator of CryptoMatix, which Ruchi Rathor apparently set up. However, it seems that iPayTotal OÜ may try to obtain an FIU crypto license to get more involved in the crypto payment segment.

Until recently, Aditya Williams was the registered director of the Estonian iPayTotal OÜ but was replaced in March 2021 by the Estonian nominee director Monika Sild. Currently, iPaytotal does not have a license from the Estonian FIU to operate a crypto payment platform. Nevertheless, the company is the operator of CryptoMatix, which Ruchi Rathor apparently set up. However, it seems that iPayTotal OÜ may try to obtain an FIU crypto license to get more involved in the crypto payment segment.

iPayTotal and Ruchi Rathor launch CryptoMatix

The notorious British-Indian high-risk payment processor iPayTotal around Ruchi Rathor and Sen Kugan recently announced the launch of its “most advanced” crypto payment platform CryptoMatix and “is actively seeking appropriate bank acquirers or entities to partner with the payment solutions company in what is promised to be a long-term measure to assist current and new merchants, especially those in the high-risk industries.” Well then, an ambitious project, right? Clearly, CryptoMatix needed new management.

The old director

According to his LinkedIn profile, the Indian citizen Aditya Williams, born January 1986, left iPaytotal and currently works for the digital marketing company Doofus Ideas Ltd (www.doofusidea.com). Well, that’s strange because this company was dissolved in July 2019 already via compulsory strike-off (Companies House). He has also been the director and beneficial owner of Technomatix Ltd, which was also dissolved in 2019 via a compulsory strike-off (Companies House). Currently, Williams is active in Finserve Ltd, which confirmation statement has been overdue since March 2021. Maybe the next compulsory strike-off ante portas?

The new nominee director

The brand new Estonian director Monika Sild is also registered as a nominee director at AlfaCash OÜ and Ledio Group OÜ. According to the Estonian FIU requirements, you need a fit and proper director to obtain a crypto license. That’s not where it comes in handy if you have a long and publicly known history at iPayTotal like Aditya Williams. Either way, without an FIU license, operating CryptoMatix as a crypto payment processor or exchange would be illegal. But maybe the license has already been issued and not yet registered in the Companies Register.

Quo vadis CryptoMatix?

We will continue to follow and report on iPayTotal and CryptoMatix. If you have any information on this, we would be happy if you share it with us.

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