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Crypterium started the pre-registration process for Its upcoming equity sale

Published Feb 01, 2021 04:20AM ET Updated Feb 01, 2021 04:30AM ET
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Crypterium started the pre-registration process for Its upcoming equity sale
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Some time ago, the fintech startup Crypterium announced plans to hold a private equity sale on an alternative fundraising platform Seedrs. Now, the company seems to be continuing with those plans, as it recently announced the start of the pre-registration for participation in the sale.

Crypterium Advances Despite Global Challenges
The last year has not been a very good one, and people around the world have suffered due to the COVID-19 pandemic. The fight against the virus is still far from over, but many would agree that the world is learning to cope, if not going back to normal.

However, despite these global challenges, Crypterium managed to see quite solid growth throughout 2020, and so far — in 2021 as well. The company saw a 300% surge in transactions last year, while its monthly profits increased by 10 times. This led to a massive turnover of 150 million EUR.

Of course, the firm's leading product is its Crypterium wallet, which saw the number of users double. The firm is currently servicing over 170 countries, with more than 350,000 users at the time of writing.

The firm's CEO; Steven Parker, commented on the company's recent progress. He said that Crypterium has been establishing itself as the leader of the crypto banking sector ever since it was established in 2018. Now, it got the ability to sell equity through Seedrs, which is an excellent opportunity for institutional and retail investors alike.

Crypterium also has the goal of reducing the gap between crypto and traditional finance, and this fundraising initiative is a perfect opportunity to make progress towards making it happen.

The Crypto industry keeps hitting new milestones
Of course, the crypto industry has received a lot of attention recently. Bitcoin price skyrocketed a few weeks back, reaching an all-time high of $42,000 per coin. This re-awakened the interest in the leading crypto, as well as the altcoin market. While altcoins that made a new ATH are still relatively rare, they did see major gains that allowed the total crypto market cap to exceed $1 trillion for the first time in history.

While the prices have dropped somewhat since reaching these milestones, the market still feels bullish, and so companies like Crypterium are in a perfect position to use that. Crypterium itself successfully passed all the strict checks and examinations necessary to hold an equity sale on Seedrs. After all, Seeders is known for wanting to make sure that the firms it works with are fully compliant with the highest standards regarding security, legality, and infrastructure.

But, passing all the checks is great news for the firm, as its COO, Austin Kimm, rightfully noticed. He said that being accepted on Seedrs is not only a major milestone for Crypterium, but for the entire crypto industry.

What will the Firm do with the Money?
As for what the company plans to do with the funds, for now — there are four goals. First, it wishes to improve its VISA program, and create and launch its crypto card for specific markets. Next, the company also wishes to scale market penetration for its B2B service. It currently has around 100 retail businesses using its solution, and it wishes to expand their number.

After that, the company also wishes to increase its transaction volume to reach a goal of $1 billion per year. As a sub-goal, it also wishes to secure 5+ million customers. And, lastly, Crypterium wants to acquire additional licenses from other jurisdictions, and expand its reach.

The funds will certainly be put to good use, and they could help the company expand and take it to the next level regarding user reach and quality of service. Not to mention that the company's native token, CRPT, could also benefit from the move by seeing its volumes and potentially price grow, as well.

How to Join
Those interested in participating in the fundraiser will have to pre-register for the sale, which also means registering on Seedrs, and verifying their accounts. After finishing this first step, users should go to Crypterium's portal, and then request priority access by clicking on the 'Get Priority Access' button. After that, they will receive an email with further instructions.

So far, over 1,500 have pre-registered with the intention of joining the fundraiser, and their pledges have almost matched half of the company's fundraising goal.

Continue reading on BTC Peers

Crypterium started the pre-registration process for Its upcoming equity sale

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