June 2019 Report & Analysis
Phew! And we thought that May was a crazy ride, huh? June ended up being even richer with events, news, and records for the crypto community.
We hope you had a pleasant and productive month and were able to keep calm and carry on despite all the market volatility and all.
As usual, we’ve prepared a revenue report for all our clients and followers. After reading this article, you’ll have a firm grasp of how our business performed in June and what factors influenced our revenue. First, let’s look at the numbers for June 2019.
The Numbers
Total June 2019 revenue: € 241,491
June 2019 Revenue share: € 24,149
Share per 100 CPAY: € 0.027
Distribution date: July 5th, 2019
Analysis
June 2019 was Bitcoin’s fifth straight month of positive price dynamics, which is the longest streak in nearly two years. At the end of the month, the #1 crypto reached USD 13k — the highest level seen since mid-January 2018. The continuing extreme volatility of cryptocurrencies contributes significantly to Cryptopay’s revenue rally — the company finished June 2019 with an additional 7% increment compared to the previous month. Opposite to the previous trend, our B2B services generate relatively stable income over the past quarter while Cryptopay’s B2C products have gone up by approximately 30% in comparison to May 2019.
B2C Updates
All B2C revenue streams have shown nice growth during June 2019 — core wallet functionality is being used by an increased number of active customers. Conversely, card deposits are a bit behind the 30% increase dynamics but are still in a positive zone; even Russian cards are developing an increased number of card orders and bigger average cheque. In general, the Russian card programme has greatly improved. Partly due to the facts that every card enjoys a premium delivery (2 days). Also, the cards are available in the iOS and Android apps and they’ve been working as smooth as ever. The infrastructure for GBP bank deposits and withdrawals has been thoroughly tested, and we are planning to launch the new feature within a week or two. We know how many clients of ours are waiting for that.
The infrastructure for GBP bank deposits and withdrawals has been thoroughly tested, and we are planning to launch the new feature within a week or two. We know how many clients of ours are waiting for that.
B2B Updates
The B2B team is moving from strength to strength, June has been the best month to date for the number of signed processing agreements with new customers. We’re growing the team to meet demand and exploring new verticals that will see us participating in new events — such as the Cannabiz summit towards the end of the year.
The team most recently returned from another successful blockchain summit in Malta, where we’ve seen a notable increase in the quality and sophistication of the participating companies. Despite the skeptical and frequent negative media surrounding cryptocurrencies, our experience has been that businesses are predominantly enthusiastic about the technology and are keen to participate in the adoption of Bitcoin as a form of payment.
In addition, our B2B team plans to introduce a new feature in July — a payment tool that will allow offline-businesses to accept crypto payments seamlessly!
As you can see, June was busy, but we haven’t lost sight of our goals and we’re looking forward to continuing the grind in the next month. We can’t wait to introduce a string of new products and services to our faithful customer base and the community at large, so stay tuned!
