Full of trials and tribulations for the crypto community, September was the month of some very important last-minute preparations and hard work for us. Surpassing the summer average, we’re very pleased with the results and filled with anticipation for what’s to come. For now, let’s look at the results.
Total September 2019 revenue: € 277,296
September 2019 Revenue share: € 27,730
Share per 100 CPAY: € 0.031
Distribution date: October 7th, 2019
September 2019 has been another tough month for crypto markets. It is the third consecutive monthly decrease for BTC with the price falling more than 15% in September as well as on the altcoin side.
The past month was notable for several crypto-highlights that probably affected the market: the controversial start of Bakkt, the neverending story of SEС delaying the decision on bitcoin ETF and Libra project consequently losing supporters. We at CPAY believe in crypto and are looking forward to new developments in October 2019 that would probably reverse the negative trend of the past months — Libra’s Association charter review and BoD appointment, another try of bitcoin ETF verdict by SEC and of course TON going live by the end of the month.
Even though the number of Cryptopay customers hasn’t changed significantly in comparison to August 2019, thanks to the new users, the B2C revenue has grown by 8%. The average revenue per user returned up to June 2019 values due to an increase in the average transaction size. The best dynamics is attributed to revenue from crypto purchases after bank deposits — it increased by 50% in comparison to the previous month. Total traffic increased by 10% with the traffic from new visitors increasing by another 20%, which is not at all unimpressive.
Another major news is the long-awaited GBP bank transfers for our UK-based users are finally here. The whole familiar Faster Payments process is all about pound sterling from start to finish without having to unnecessarily exchange your funds to EUR along the way, so we hope our users will find it quite useful.
And as for the cards, they are still fashionably late; however, we’ve already started testing them, so the pre-order campaign will follow shortly in the next couple of weeks.
Cryptopay’s B2B team continues to grow in size, with new starters joining at the end of summer. Processing volumes by our merchants continue to increase, and more merchants are now being onboarded faster than ever before. All of this resulted in the B2B revenue growing by a whopping 17% and reaching record levels! Our developers have been hard at work and, having released a number of new products, together we’re all geared up for a very busy and productive Q4.