Ugne Buraciene’s Payabl Works with More Illegal Firms Allegations Fact-checked (2024)
Former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann founded Payabl, formerly known as PowerCash21, a payment institution under the Central Bank of Cyprus’s jurisdiction. Payabl is a high-risk payment processor that specializes in the adult and gambling industries. Two additional online casinos that take Payabl payments are Bitdreams and Lucky Dreams. Friolion Limited and Libergos Limited, both based in Cyprus, are the payment agents.
The Casino Clients of Ugne Buraciene’s Payabl
Dama N.V., a business registered in Curacao with an e-gaming licence No. 8048/JAZ2020-13 issued by Antillephone N.V. recognized by the Curacaoan government, is the owner and operator of the Casino Clients Lucky Dreams (www.luckydreams.com). Friolion Limited, a fully-owned subsidiary of Dama established in Cyprus, is the payment agent. Customers of Lucky Dreams deposit money into Friolion’s wallets and accounts.
Hollycorn N.V., a Curaçao-registered business governed by Antillephone N.V. under licence number 8048/JAZ2019-015, is the owner and operator of Bitdreams. Libergos Limited, its wholly-owned subsidiary, is the payment agent. It is registered in Cyprus under the registration number ΗE 371971 and has its registered address at Boumpoulinas, 1-3, BOUBOULINA BUILDING, Flat/Office 42, 1060, Nicosia.
The Ugly Statistics of Ugne Buraciene’s Payabl
As of December 18, 2022, Bitdreams (10%) and Lucky Dreams (20%) accounted for 10% and 30% of the incoming referral traffic to the Payabl website, respectively. Bitdreams is predominantly visited by players from Austria and Germany. For instance, Payabl made it possible for the two online casinos to use SOFORT, a widely used bank-based payment option in Germany. A member of the Swedish KLARNA Group is SOFORT.
Apart from gaming, Payabl’s revenue primarily comes from the adult sector and customers like xHamsterLive and StripChat.
