CoinMetro, the crypto platform powering the future of finance, announced today that they’ve shattered their growth expectations, with revenue leaping 100x in March 2021 compared to March 2020.
Buoyed by a strong crypto market, a vibrant community, and an ever-expanding product lineup, CoinMetro has more than doubled its revenue projections for Q1 2021, putting the Tallinn-based crypto-platform comfortably on track to smash its remaining targets throughout the rest of the financial year.
Fuelled by XCM
Although many cryptocurrency exchanges have been collectively reaping the benefits of a booming digital economy, few if any at all have seen the growth that the CoinMetro ecosystem has.
You see much of the overall attention has been focused on BTC, ETH, etc.
The usual suspects.
Meanwhile, CoinMetro’s own native utility token, XCM, has been on a tear. XCM, by all accounts, has been something of a giant killer, putting the likes of Binance and Uniswap to shame by climbing an astonishing 1400% in value.
So, as the CoinMetro and XCM hype train has gained steam, so too has the company’s customer base which has pushed revenues to an all-time high.
Scaling the Team
It’s not just revenues and customer base that have been growing. Supporting all this growth means scaling up the teams responsible for developing, selling, supporting, and securing CoinMetro’s products.
“I’m immensely proud of the work the team at CoinMetro has put in to get us where we are,” said Kevin Murcko, CoinMetro’s CEO, “the passion, the commitment, the enthusiasm, the dedication to our clients, it’s all part of the recipe needed to change the way the world sees, thinks, and interacts with money”.
“No doubt though, we’ve still got some big milestones ahead of us. And to make sure we keep this pace up, we’ve been hiring relentlessly and bringing new creative and inspired minds onto the team. 2021 is going to be a very big year for us” Kevin continued, with his trademark grin.
Building the Future of Finance
Glancing at CoinMetro’s ambitious 2021 roadmap says a lot about Kevin’s optimism.
There’s some really big stuff in there.
CoinMetro Group’s company Digital Fiat OÜ recently announced that they’ve been awarded an all-important E-Money Institution Agent license from the Bank of Lithuania, paving the way for cards, individual IBAN accounts, direct debits, and much more.
Just another piece of CoinMetro’s overarching plan to become the future of finance and change the way the world interacts with money.
CoinMetro is also eyeing up the lucrative B2B “know your customer” sector that has emerged in recent years. Rather than buying “off the shelf” customer verification solutions, providers like Veriff, CoinMetro felt that building their own customer verification infrastructure made more business sense.
This means that not only does CoinMetro have tighter control (and security) of their own product, they’re now in a position to tap into a market worth $5.6 billion by offering their bespoke B2B legal KYC and Whitelabel verification services to other businesses.
Sights Set on an MTF License
An MTF license is an investment firm license to become a multilateral trading facility (MTF) which is a European self-regulated financial trading venue. This allows them to offer CFD’s, futures, options and the listings of equities and bonds of SMEs with market caps of lower than €200 million. In addition to this the MTF license allows for a distributed ledger technology exemption to settle their own securities transactions on DLT.
CoinMetro is in the process of securing more funding for the multilateral trading facility license. While looking to raise €1.5 million, they ended up with interest for over €3 million in additional funding. The €1.5 million required for the MTF license has been confirmed and they expect to see the rest finalized in the coming weeks.
An EU-licensed exchange, CoinMetro is owned and operated by CoinMetro Group OÜ, a company incorporated in Estonia. The CoinMetro Platform is an exchange-based order book for various pairings of cryptocurrencies and fiat currencies and is now a primary and secondary market for digital securities. Digital Fiat OÜ is an agent to an authorized electronic money institution Payrnet UAB and part of companies in the CoinMetro Group.