Currency.com sees strong growth since 2019 market launch
Deposits also increased 490 per cent in 2020 with more than $16bn (£11bn, €13bn) being processed in trading volume
Currency.com, which operates the world’s first regulated trading platform for tokenised securities, has reported strong growth results since its launch in 2019.
One highlight is the significant rise in client numbers in 2020, a 374 per cent increase compared to 2019, with first time depositors surging by 447 per cent in the same year.
At the same time, deposits increased 490 per cent in 2020 with more than $16bn (£11bn, €13bn) being processed in trading volume.
December saw a particular rise in trading volumes by 236 per cent, reinforcing the platform's growth.
Meanwhile, some of the most popular market categories traded with currency.com include cryptos such as Bitcoin and Ripple; tokenised stocks of companies such as Amazon, Apple, Netflix and Chesapeake Energy Corp; indices such as the Dow Jones 30 and the S&P 500; and commodities such as gold, silver and Brent Crude oil.
DeFi tokens were also added to the platform in 2020.
The platform worked to be more accessible for clients by adding new deposit methods, such as SEPA, Faster Payments, UnionPay and a list of other popular local e-wallets in 2020.
Commenting on the Company’s results, Jonathan Squires, CEO of Currency.com Limited, said:
2020 was an important year for Currency.com and we are proud of the results we achieved. Just over a year ago we launched this revolutionary blockchain venture, which provides crypto investors with a concrete option to diversify their portfolio by investing in traditional asset classes using cryptocurrencies, and over the past 12 months we saw great traction oth in the number of clients signing-up to the platform from over 140 countries and in the number of trades made. We are continuing to invest in the safety and security of the platform and in expanding our offering and services.
The number of currency.com app installations also surged in 2020 by 918 per cent from the year before.
Additionally, in 2020 Currency.com was recognised at the ADVFN International Financial Awards as the “cryptocurrency leading mobile app of the year”, “best regulated crypto exchange of the year” and “breakthrough in crypto trading”.