In a nutshell: Cryptocurrencies as an entire could also be experiencing a dip, however you would not realize it primarily based on the newest consumer numbers from one in style crypto trade. Singapore-based trade Crypto.com instructed Axios that it now has over 50 million customers. That’s greater than 5 occasions the variety of customers the trade had when it final shared stats in late 2020.
Better but, CEO CEO Kris Marszalek instructed the publication he expects to achieve 100 million customers by the top of this 12 months.
Marszalek’s firm is a bit distinctive within the house in that they’ve by no means taken an outdoor funding.
“We’ve clearly had an amazing quantity of curiosity, with some very beneficiant provides, however money hasn’t been a limiting issue given the quantity of income the corporate produces,” the chief mentioned.
Crypto.com is not averse to finally accepting funding and even going public, however Marszalek mentioned he would like the corporate be in a greater place to resist market pressures earlier than doing an IPO. Part of getting there entails diversifying its income stream, which is primarily made up of charges from trades immediately.
The trade has been busy constructing mindshare as of late. In July 2021, Crypto.com partnered with the UFC to turn into its official battle equipment model accomplice. Just a few months later, the trade purchased the naming rights to the Staples Center in Los Angeles in a deal that lasts for twenty years.
Crypto.com can be the title sponsor of this weekend’s Formula 1 Grand Prix in Miami and can be a sponsor of the FIFA World Cup this summer time.
Image credit score Worldspectrum