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Fintech startup Crypterium opened pre-registration for upcoming equity saleAndrey Sergeenkov
Fintech startup Crypterium opened pre-registration for upcoming equity sale

According to a recent press release, the fintech company Crypterium decided to start the new year by opening pre-registrations for a soon-to-arrive private equity sale of Seedrs. The company handled itself extremely well in 2020, despite the pandemic, establishing itself as the leader in the crypto banking sector.

Seedrs is one of the most popular alternative fundraising platforms today, which makes it clear why Crypterium opted to hold an equity sale there.  It should also be mentioned that the company managed to see solid growth throughout 2020, despite all the challenges that the world was facing due to COVID-19.

In fact, Crypterium saw a 300% increase in transactions, which brought a 10x growth in its monthly profits. In total, the company saw a 150 million EUR turnover, which is nothing short of impressive.

Crypterium's main product is its crypto wallet, known as Crypterium Wallet. The wallet has seen a massive surge in the number of users, who pretty much doubled in number. Now, the service is available in over 170 countries, servicing over 350,000 people.

The company's CEO, Steven Parker, said that the company has been working on establishing itself as a leader of crypto banking ever since it was founded in 2018. By gaining the ability to sell equity via the Seedrs platform is a remarkable ability for institutional and retail investors alike, according to Parker.

One of Crypterium's biggest long-term goals is to bridge the gap between digital and traditional finance, and this fundraising initiative is well aligned with that goal.

The crypto industry has seen rapid growth in the past month, ever since Bitcoin price started to skyrocket again. The growth of the industry is not unlike what was seen in 2017, and it culminated after BTC hit $41.9k.

The growth brought back the investors' interest in crypto, and the total crypto market cap even climbed past $1 trillion for the first time in history.

All of this is perfect for Crypterium, which is a regulated firm that holds a diverse portfolio of various operational and profitable services. Despite being regulated, the company still had to go through lengthy and strict checks by Seedrs.

But, the platform must have been pleased with what it found, as Crypterium was eventually accepted, after complying with the highest standards regarding security, infrastructure, and regulatory compliance.

The company's COO, Austin Kimm, hopes that Crypterium will encourage other firms to raise money to further expand and push towards mass adoption, which is currently one of the biggest and most important goals of the crypto industry.

For the moment, the fundraising efforts aim to support Crypterium's expansion to a number of different geographical locations. After raising the funds, there are four things to do with the money — creating and launching a crypto card for specific markets like the US and China, scaling market penetration for the firm's B2B services, expanding the transaction volume to $1 billion per year, and acquiring licenses that will allow the firm to start serving people in many new jurisdictions.

In short, the company aims to use the money to expand its reach and offer its services to more people, while hoping to see increased usage as it goes along. It has already come a long way, and now — it aims to go to the next level regarding user reach.

If, along the way, the company's native utility token, CRPT, sees price growth — this will be a welcome development, as well. The token is used to fuel the firm's services, and particularly crypto-fiat operations. Essentially, it is used for collecting fees during crypto and fiat transactions. It also has an ongoing burning process, that helps the ecosystem remain sustainable and stable.

As for the equity sale, it will only be available for pre-registered applicants who can complete the process on the Seedrs platform. The procedure is actually rather simple, and all that users need to do is register on the platform, verify their identities, go to Cryptorium's portal, and hit the 'Get Priority Access' button. After that, they will receive the rest of the instructions via email.

So far, over 1,500 investors have joined, and they pledged almost half of the fundraising goals that the company has set.

by:

Andrey Sergeenkov

from:

fxstreet.com
cryptoDATA 27 Jan 2021 cryptoTIME 3 min read
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