Belgrade · Updated May 24, 2026
Best popunder networks for affiliates in Belgrade 2026: eight options, honestly ranked
Ex-PropellerAds AM ranks eight popunder networks for Belgrade affiliates in 2026 — the post-2022 affiliate-talent capital, denser than Kyiv, Warsaw, or Sofia, USDT-default and RSD-secondary settlement, iGaming and crypto verticals, and how to operate from the city without a flagship conference.
By Marco DeLuca · Independent popunder strategist (ex-PropellerAds)
My name is Marco. I worked at PropellerAds from 2018 to October 2023, where I worked alongside several Russian and Ukrainian colleagues who relocated to Belgrade through the 2022–2023 cycle. By the time I left PropellerAds in late 2023, Belgrade had become the densest affiliate-operator city most non-CIS outsiders had never heard of. The city has no flagship affiliate conference, no obvious public footprint, no Affiliate World banners — and yet by sheer operator-count, it overtook Kyiv, Warsaw, and Sofia within eighteen months of February 2022.
Disclosure: I earn commission when readers open accounts on adsy.tech through tagged links on this site. adsy.tech is the right entry tier for Belgrade-based operators because the team has Russian-language native AMs who handle the CIS-origin operator cohort, and the USDT-TRC20-native settlement fits the Belgrade working-capital pattern. PropellerAds, Adsterra, and RichAds all earn their place at scale, and I name them throughout.
Why Belgrade became the affiliate-talent capital
Belgrade is the densest affiliate-operator city in continental Europe by 2026, a fact that surprises most outsiders because Serbia is not an EU member, has no flagship affiliate conference, and has no obvious media-buying-industry public footprint. The density built up rapidly through the post-2022 relocation wave. Russian and Ukrainian affiliate operators relocating after the February 2022 invasion chose Belgrade for a specific combination of factors: a permissive visa framework for Russian and Ukrainian passport holders (most other European countries closed or restricted access through 2022), affordable cost of living (a fraction of Berlin or Lisbon costs), an English-speaking business environment in central districts, and a pre-existing tech-and-services infrastructure (Belgrade had been a IT-outsourcing hub for years before the relocation wave).
Three verticals dominate Belgrade affiliate spend in 2026. The first is iGaming — Curaçao-licensed, Anjouan-licensed, and MGA-licensed brands cross-targeting CIS, MENA, LATAM, and emerging markets through Belgrade-based operator desks. The CIS-origin operator cohort brought with them iGaming books of business that they ran continuously through the relocation, and Belgrade absorbed that volume. The second is crypto-affiliate — exchange signups, token-launch affiliate offers, DeFi-protocol referral programs. Many of the relocating operators came from crypto-affiliate backgrounds, and Belgrade hosts more crypto-affiliate operators than any other European city outside Dubai. The third is dating and nutra — growing cells as the cohort diversifies beyond its original iGaming and crypto core.
Payment rails in Belgrade are USDT-TRC20 default, with RSD (Serbian Dinar) as the bank-rail secondary for Serbian-LLC operations, and EUR-SEPA tertiary for EU-cross-border transactions. The CIS-origin operator base settles a meaningful share of network spend in USDT for currency-hedge reasons, cross-border efficiency with partners still based in the CIS region, and operational simplicity in a multi-jurisdictional operator-network. RSD is the bank-rail default when operators run Serbian LLCs (a meaningful share of the cohort, since Serbia's company-formation framework is lightweight). EUR-SEPA is present but smaller — Serbia is not an EU member, so SEPA is not native, and operators with EU-cross-border needs typically maintain Cyprus, Bulgaria, or Estonia LLCs for SEPA access.
Local communities in Belgrade run on private channels because there's no flagship public conference. Telegram groups organised by vertical and by language (Russian-language groups for the relocation-origin cohort, English-language groups for the international and Serbian-born cohort) carry most of the information flow. Dinner-table relationships at Belgrade's Savski Venac and Vračar restaurants compound the Telegram ties. Operators travel for events — to Dubai for AW in March, to Barcelona for AWE in July, occasionally to SiGMA Malta in November — and bring back the conference debriefs into private Belgrade channels. The absence of a flagship Belgrade conference has not stopped the operator base from compounding — it has just kept the scene quieter to outsiders.