The time has come to sum up what this August has been all about. Inside you’ll find the first report on our new card programme along with other interesting data. And what can be more interesting than the numbers?
Total August 2020 revenue: € 678,893
August 2020 Revenue share: € 67,889
August 2020 Revenue share in ETH: 218.3990 ETH
Share per 100 CPAY: € 0.075
Distribution date: September 10th, 2020
As we wave goodbye to summer, we have to admit: August 2020 went out with a bang. First, having risen from the ashes just in last July, Bitcoin continued on its glorious way to $12,000. It confidently defended the previously mentioned $11,500 support level before unexpectedly crashing into the correction wall and falling to pre-bull market $10,200 point just a week ago. At the moment, that’s where the price stays, though, perhaps, not for long.
The situation has been somewhat similar with Bitcoins’s counterpart Ether — hitting the two-year high of $495 at the end of August, it overstepped and fell by more than 30% to $300. The coin is yet to recover, though some already predict it can reach $500 in the nearest future giving a healthy bullish weekly charts as an example.
In August 2020, the B2B revenue grew by another 14%, while B2C stayed practically at the same level. Here we can see that gradual increase in Wallet turnover (including B2C bank transfers) has compensated for the loss of the Russian card programme. There’s been an 18% decrease in card deposits, which possibly can be attributed to Bitcoin correction concerns (no one wants to be that person who buys when the price hits 19k) — incidentally, this is what we’re witnessing right now.
Our B2B colleagues are gradually going back to normal life: it’s an online conference for them this week, but we expect the resurrection of life events a further bit down the road. Hopefully, everything is going to be okay, and we won’t have to self isolate again because of the ‘second wave’. We’ll be keeping our fingers crossed.
However, we also cannot ignore the recent spike in coronavirus cases in the UK and some other European countries and have started to prepare for the worst-case scenario. At the moment we’re saving up in case we have to finance our activities in the event of another global economic downturn, which may also affect our industry.
The newborn EEA card programme is feeling good: we’ve already issued a few thousand cards, and this is just the beginning. There have been rumours regarding the possible acquisition of WDCS by Railsbank. It’s too early to comment on it, and at the moment we cannot add anything new or crucial on the matter. Nevertheless, what we can say is we stay in close daily contact with WDCS and our partners continue to maintain our card programme professionally and efficiently. We are not expecting any outages and will timely inform our clients about any structural changes concerning our card programme partners when and if they’ll happen.
And that’s it for today. Hope you’ve enjoyed the issue, and we’ll see you again soon. Remember that you can receive revenue share by going to our special landing page and entering your personal ETH address. You can also find a detailed guide on how to do it here.
Text by Alyona Shepilova