BP Wallet (www.bp-wallet.com) and the BP Utility Token are powered by Setara LLC in Miami, United States. They claim to be a new way for merchants to get paid. BP Wallet uses its PB Token to let its merchants receive payments from their clients.
We identified BP Wallet in the WAM Capital broker scam. Officially, the scam victims purchase a BP token which is then transferred to WAM Capital (or the corresponding FIAT value). So the BP Token is a means of payment for scam ventures and/or high-risk merchants? We don’t know yet!
Due to the unclear nature of the BP Wallet business and its involvement in scams, we included the payment processor in our “Red Compliance Light” list.