Company Information

Get to know Paycent

Paycent, a product of the Singapore-based company Texcent Asia Pte Ltd, aimed to bridge the gap between cryptocurrency and the traditional financial system. Launched around 2017, its core offering was a mobile wallet that supported multiple cryptocurrencies (like Bitcoin, Ethereum, Litecoin, and its own PYN token) and a physical or virtual debit card that allowed users to spend their digital assets at real-world points of sale. The company's mission was to facilitate seamless and instant crypto-to-fiat conversions for everyday payments. However, around late 2020, the company ceased operations, its website went offline, and numerous users reported being unable to access their funds, leading to its effective closure.

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Crypto CryptocurrencyPRIMARY
Financial Other Service

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Paycent

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OVERALL SCORE

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Markets.com

(326 reviews)

United States

2008

(18 years)

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.