Crypto.com Hits 10 Million Users, Chain Launch Imminent
Crypto.com has crossed a major milestone. The cryptocurrency app now has more than 10 million users.
Key Takeaways
- Crypto.com has enjoyed explosive growth amid crypto's latest bull run.
- The platform has now breached the 10 million user milestone, as well as continued to expand its team to 900 employees.
- CEO, Kris Marszalek, has posted a bullish revenue target moving forward.
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Passing eight figures: Crypto.com has now welcomed 10 million users.
Crypto.com Making Headways
Crypto.com has hit 10 million users, the company announced today.
The company confirmed that its user base had doubled from 5 million to 10 million in only four months in a blog post. The post also revealed that revenue had increased 10x in 2020 alone.
Crypto.com is one of the world’s most popular cryptocurrency apps. It offers users a Visa card while also running its own DeFi wallet and exchange for buying and selling digital assets like Bitcoin and Ethereum.
It’s also working on its own blockchain called Crypto.org Chain. On Monday, the company announced it would be burning 70 billion CRO tokens in preparation for the project’s March 25 launch. It’s hoping to capture the fledgling DeFi and NFT markets.
Crypto.com CEO Kris Marszalek shared some words in the blog post outlining the 10 million milestone and plans for the forthcoming chain. He said:
“Crypto.com has demonstrated consistent double-digit growth rates month-on-month for over 2 years, in all market conditions, driving 10x revenue growth in 2020. With the bull market in full swing, we’re seeing growth accelerating even faster.”
Marszalek also confirmed that the team had grown from 250 to 900 employees and that they’re expecting to reach 100 million users in the next couple of years (they’d previously targeted 100 million by 2025).
He also clarified the company’s intentions to focus on the Crypto.org chain over the coming months. Concluding the blog post, he said:
“With the recent launch of the Crypto.com Derivatives Exchange and the Crypto.org Chain Mainnet launch set for 25 March 2021, we are perfectly positioned to lead the cryptocurrency industry forward.”
Disclosure: At the time of writing, the author of this feature owned ETH and a number of other cryptocurrencies. Crypto.com is a sponsor of Crypto Briefing.
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