Join us for another revenue report where we relate the toils of crypto coins, try to predict the future and are being proud of our new products and nice changes to our old products. But first of all, let’s look at the numbers:
Total September 2020 revenue: € 659,451
September 2020 Revenue share: € 65,945
Share per 100 CPAY: € 0.073
Distribution date: October 12th, 2020
September 2020 Revenue share in ETH: 200.9663 ETH
September 2020 was another nerve-racking month for crypto investors as Bitcoin accelerated to $11,000, plunged back to $10,000, then regrouped and continued on its way up. In a similar manner fared Ether having taken a nosedive into $320 in the last week of September. Since then both coins have managed to bounce back and are now eyeing with hope the $12,000 and $400 marks respectively.
The ones that wish to instead opt for stablecoins should perhaps heed the words of The European Central Bank (ECB) who has suggested that the term ‘stablecoin’ should lose the promotional touch so appealing to the wider public and rename itself to a something truer to its nature: ‘As regulatory principles are established and approaches are defined, the term ‘stablecoin’ should be replaced by a choice of terminology to shift the emphasis away from the issuer’s promise of stability,’ the ECB said. In the 30-page report, the ECB has also stated that the growth of stablecoins in Europe could potentially lead to their increasing use as a new payment method or as an alternative store of value, so there’s that.
After the growth spurt of the last few months, in September 2020, the revenue had a natural slowdown — we earned 3% less of what we did in August. This did not come as a surprise as a few of our B2B clients have temporarily reduced the transaction volume. As we don’t expect it to be lasting, in October 2020, we’re set to conquer new heights once again. At the same time, the B2C branch has bested itself: the revenue has grown by 25% in comparison with the previous month — and all of this thanks to the C.Pay card. The product is evolving and continues to attract a new audience, so the only thing we expect in this direction is further growth.
It should be mentioned, of course, that all these estimates are only valid as long as the economic situation continues to be favourable (how the meaning of this word has changed lately). As the second wave of Covid-19 slowly engulfs the globe, we cannot help but stay apprehensive, and even though the response of the European governments is at the moment milder in respect to businesses, we do prepare for the worst while always hoping for the best.
The C.Pay card programme is feeling rather lively as for the past month we’ve almost doubled the number of issued cards. The “issuer situation” continues to be under control, so there shouldn’t be any unpleasant surprises there. We will continue updating you on the matter.
And as for the inner growth of the company, a few months back we told you that we began headhunting the brightest candidates to fill a few key positions at Cryptopay. So, having found them, we’re now reaping the benefits. For starters, have you noticed that you can now buy crypto with not just 1 but 3 personal cards simultaneously? Did you have time to appreciate the new highly adaptable and exact miner fees? Have you already scheduled a private meeting with our Head of Product to tell him what will make the platform perfect for you? And there’s plenty more where that came from, so buckle up. This should be good!