PayAsian was launched as a mobile-based digital wallet application intended to facilitate a range of financial transactions, including QR code payments, utility bill payments, and P2P transfers across Asia. A core component of its business model was the creation and promotion of its own cryptocurrency, the "PAYA coin". The company heavily marketed the purchase of PAYA coin as an investment with the promise of high returns. The project ultimately ceased operations following multiple police investigations and widespread public reports in India identifying it as a fraudulent multi-level marketing (MLM) and Ponzi scheme.

Founded in

India