Payhound

History and Founding

Payhound traces its origins to 2018, when a group of banking and payments professionals established Moneybite—a precursor entity focused on building a proprietary crypto payments platform. In 2019, Elton Dimech left a decade-long banking career to join as Managing Director, tasked with building the company from scratch and steering it toward regulatory compliance. The company adopted the Payhound name and began operations targeting Malta's emerging iGaming market. By 2021, Payhound became one of the first firms to obtain a Class 3 VFA Service Provider licence from the MFSA under the Virtual Financial Assets Act, a milestone that gave it a first-mover advantage in the regulated crypto payments space.

Regulation and Compliance

Payhound is authorised by the Malta Financial Services Authority as both a Financial Institution under the Financial Institutions Act (Chapter 376) and a Crypto-Asset Service Provider under the EU Markets in Crypto-Assets Regulation (MiCAR), implemented in Malta via the Markets in Crypto-Assets Act (Chapter 647). Its licence covers services including crypto-asset transfer on behalf of clients, order execution, custody and administration, exchange of crypto-assets for funds, and exchange between crypto-assets. The company adheres to strict AML/KYC standards and has positioned compliance as a core differentiator.

Products and Services

Payhound's platform rests on three primary solution pillars: Crypto Payment Processing enables businesses to accept crypto deposits from customers without holding digital assets directly, converting crypto to fiat or stablecoins in real time via API. Cross-Border Payments facilitates instant global transfers of crypto and stablecoins, bypassing traditional banking delays. High-Volume (OTC) Trading allows clients to buy or sell large volumes of cryptocurrency with dedicated traders. Additional capabilities include mass payouts (e.g., affiliate commissions, player withdrawals), fiat conversion, and secure withdrawal services. The platform supports BTC, ETH, USDT, USDC, and other major altcoins, with continuous asset evaluation.

Industries Served

While initially focused on iGaming—particularly MGA-licensed operators—Payhound has expanded into affiliate marketing, forex, payment service providers (PSPs), e-commerce, and luxury services. The company's regulated status makes it particularly attractive to businesses operating in jurisdictions requiring compliance with MiCAR.

Achievements and Milestones

In 2024, Payhound surpassed €1 billion in total payment volume processed. The company was voted “Best Crypto Payment Provider” at the SiGMA Europe Awards 2026. In 2025, Payhound participated as a featured speaker at Market Expert Insights and Next.io Spotlight events, discussing MiCAR's impact on crypto payments, and was featured in Payment Expert's interview series on simplifying crypto transactions in iGaming.

Market Position

Payhound operates as a privately held, unfunded company within a competitive landscape of 1,610 active competitors (including 267 funded firms). Its differentiation lies in early regulatory compliance, a proprietary platform built for high-volume, low-latency transactions, and deep specialisation in gaming and fintech verticals. The company has not disclosed any external funding rounds.