Paybis

Paybis has operated since 2014 with no reported security breaches or loss of customer funds. It holds regulatory registrations in the UK (FCA #928013, HMRC), US (FinCEN MSB #31000224635628), Canada (FINTRAC M22061209), and Poland (RDWW-805). The platform is PCI DSS Level 1 certified for card processing and requires KYC for all users. Over 1.8 million users have transacted $2+ billion through the platform since founding.

No. Paybis is a non-custodial broker. When you buy crypto, it is sent directly to the external wallet address you provide — Paybis never holds your coins on your behalf. This eliminates counterparty and custody risk: if Paybis were to fail, your crypto would already be in your own wallet. This is the primary reason Paybis does not publish proof-of-reserves audits — there are no pooled user funds to audit.

Paybis offers two-factor authentication (2FA), passwordless login via one-time email codes, and integrates SiftScience for fraud detection. For its optional wallet product, user funds are stored in offline cold storage using MPC (Multi-Party Computation) technology, which distributes private keys across multiple secure locations so no single point of failure can expose them. A bug bounty program is accessible via security@paybis.com.

Paybis is registered with multiple financial regulators: FinCEN in the US as a Money Services Business (#31000224635628), FINTRAC in Canada (M22061209), FCA in the UK as a cryptoasset business (#928013), and RDWW in Poland as a VASP. Note: UK FCA registration as a cryptoasset firm does not equate to full FCA authorisation — investments are not covered by the Financial Services Compensation Scheme.

Paybis restricts service in sanctioned jurisdictions: Russia, Iran, North Korea, Syria, Belarus, Cuba, Sudan, South Sudan, Somalia, Myanmar, and Afghanistan. In the US, New York and Hawaii residents cannot use the platform. Quebec, Canada is also excluded. Certain tokens face additional US state restrictions in Alabama, Alaska, Arkansas, Louisiana, Minnesota, Nevada, New Mexico, North Dakota, Vermont, and Washington.