The recent months have been very intensive and eventful for Crypterium. We want to share important updates regarding the crowdfunding campaign, new organization structure, business performance results over the last two months with the latest product enhancements and CRPT token activities.
Crypterium private equity sale on the Seedrs platform is closed to the public. The initial goal of €1.000.000 was reached in just 36 hours. Crypterium has confidently surpassed the 355% overfunding target.
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Crowdfunding on Seedrs
The investment campaign on the Seedrs platform has been successfully closed to the public. Crypterium was overfunded by 355%, reaching over €3,500,000 by the end of the campaign.
We are completing legal procedures, finalizing the necessary documents with the Seedrs team. Therefore, investors still have time to make late payments. After completing the entire process, we will make the final announcement.
Our partner, CFS Management, offered a great investment opportunity for non-EU countries with exactly the same terms and benefits, including our token cashback. CFS is a UK company licensed with a much wider geographical coverage than we had before.
More capital and a wider shareholder structure
With the successful closure of our crowdfunding campaign on the Seedrs platform, the company requires a change in governance model with a more formal and wider shareholder structure, as well as the creation of an advisory committee made up of people outside the executive area.
Allocation of new capital:
- 11% for worldwide card coverage
- 17% for new products
- 17% for physical money licenses (FIAT)
- 22% to expand the B2B service that is gaining a lot of support
- 22% for marketing expansion
- 11% for product improvement and user support.
The steady growth of the Crypterium user base
Crypterium has almost 500,000 registered users from all over the world, with the following percentages by continent:
- 34% in Europe
- 23% in Asia
- 16% in North America
- 13% in Africa
- 12% in South America
- 2% in Oceania
Although the Crypterium Visa Card can not be issued to US citizens, the share of active users compared to registered users is higher. In the percentage of active users, North America is over 20%. The US market plays a very significant role and no has the number one priority for geographic expansion.
Crypterium is focused on making VISA card issuance for the USA as it has the largest base of cryptocurrency users and therefore, it will open doors to carry out this issuance in other North American countries and also in Latin America.
The possibility of issuing a VISA card and being able to spend your cryptocurrencies in an easy way is still one of the main priorities, and this has boosted the B2B partnerships that the company has closed.
Crypterium VISA cards will be available in the US market by the end of 2021 or a little earlier since the process is already underway.
May – June updates
IBAN has already been launched in May. It allows deposits, exchange of crypto/IBAN, and vice versa. In the next stage, it will come to the functionality of withdrawing from ordinary bank accounts.
The company will focus on solving problems with the app, such as login, subscriptions, reducing the time it takes to load the app, adding new wallets, ordering cards via the internet.
There are other projects underway, in particular, a side project called cryptoJETON, which aims to support transactions by high-risk companies, such as casinos, gambling sites, entertainment, etc.
These companies usually pay very high fees of up to 10% on transactions, in addition to deadlines for receiving the money. The idea of cryptoJETON is to charge fees of around 2% with immediate availability of values, acting as an intermediary between the company and the final consumer.
The structure of Crypterium
Almost 120 people work at Crypterium. Steven Parker as CEO and Austin Kimm as COO of the company. Most people are allocated in Moscow, some in Estonia, and some in the United Kingdom.
The burning program
The burning of CRPT tokens in April was practically the same as in March, but this is expected to increase in the coming months when cards from all B2B partnerships are issued and begin to be used.
This month we are intensively working with partnerships with crypto exchanges (Kucoin and HitBTC) to run trading contests, promotions marketing, etc. Two large crypto exchanges are planned for listing.
We have focused on making the Crypterium App more user-friendly and fix all the bugs before taking a big step to launch a subscription service that allows the subscriber to have discounts on transaction fees and products.
In June we plan to launch this service to lower the commissions, get access to AI Price Predictions, etc. Also, more benefits will come for tokenholders, such as reduced fees and free services