Crypterium to crowdfund on Seedrs, monthly profits rise 10X during Coronavirus pandemic
Crypterium, a KPMG-awarded financial technology company, has opened the pre-registration for investors looking to participate in a closed private equity sale on Seedrs—one of Europe's largest equity crowdfunding platform with over £1 billion invested, registered and regulated by the UK Financial Conduct Authority (FCA), a recent press release reveals.
Over 1,500 Applicants Have Pre-Registered
Only pre-registered applicants will be considered. There will be a specific number of voting shares for the Crypterium's digital platform and Neobank. As of Jan 22, over 1,500 applicants had pledged more than half of the initial fund-raising goals.
The crowdfunding will support the expansion of Crypterium in various geographical locations and marketing efforts. Notably, funds will be used to improve the Crypterium VISA program. This program aims to develop and launch cryptocurrency card services for specific markets.
Crypterium hopes to scale market penetration for B2B services, boost their transaction volumes close to their target of $1 billion through active user engagement and acquisition campaigns, and acquire new licenses to service multiple regions.
This aligns with Crypterium's objective of bridging traditional and digital finance. Their goal is to set a foundation for more users to leverage digital assets' global, censorship-resistant properties to access quality financial services.
The Total Cryptocurrency Market Cap rose to over $1 Trillion in January 2021
The private equity sale is amid the expansion of the cryptocurrency market.
For the first time, the cumulative market capitalization of all digital assets surpassed the $1 trillion mark. The Bitcoin price, the largest digital currency by market capitalization, rose to over $40,000, printing a new high.
The Bitcoin bull market set the precedent for other altcoins. In the third week of January 2021, Ether, the native currency of the Ethereum smart contracting network, rose, posting new all-time highs above $1,400.
This re-pricing of digital currencies coincides with the Coronavirus Pandemic, a virus that has claimed lives across the world, disrupting economies, and in some cases causing governments to accelerate research on digitized fiat currencies. Several countries, including China, plan to launch Central Bank-backed Digital Currencies (CBDCs) to supplement hard cash in the execution of their monetary policies.
Accordingly, digital currencies and blockchain-based projects appear to be the major beneficiaries. For instance, in March 2020, when countries began announcing lockdowns as part of containment measures, the Bitcoin price was trading at around $4,000, falling on news of the effects of Coronavirus in the United States.
However, this has since changed, and the coin is trading at above $30k as of Jan 22, according to coin trackers.
Crypterium Grew in a Pandemic, a 10X in Monthly Profits
Despite the challenges posed by the virus in 2020, Crypterium saw a 3X increase in transactions, 1,000 percent in monthly profits, and a turnover of over €150 million.
Concurrently, the Crypterium wallet more than doubled its user base. Users can download the Crypterium wallet at the Google Playstore and Apple Store.
Together with the Crypterium Card, they now service over 350k people in more than 170 countries.
The rapidity of their growth cemented Crypterium's position in the business to business (B2B) arena.
Tapping the Growth of Digital Assets
According to Steven Parker, the CEO of Crypterium and a former General Manager of Visa Central and Eastern Europe, the closed private equity sale presents an opportunity for investors to tap on digital assets' growth.
He said:
"Since its foundation in 2018, Crypterium has established itself as an undeniable leader in the crypto banking sector. The ability to sell equity through Seedrs presents a remarkable opportunity for both retail and institutional investors alike to leverage the growing force of the digital assets market together with an industry-leading player."
In Crypterium's assessment, the additional funds will help them meet their objectives and those of investors. This will also support their native ERC-20 utility token prices, CRPT, used to pay fees for users bridging between fiat and digital assets. The CRPT token is regularly burnt to ensure the stability and sustainability of the Crypterium ecosystem.
To participate, applicants must sign up at Seedrs, click on the Crypterium portal, request priority access, and follow the participation details sent to their email address. All new Seedrs users must verify their profiles.
