The masterminds of the Crypto.com app said that their platform is experiencing “accelerated growth,” and is now expecting to reach the 100 million user mark by 2023, a milestone that it claims is a “full two years ahead of schedule.”
In a blog post, the Hong Kong-based firm, which provides crypto-related card, trading, and lending services, stated that it now has 10 million users, up from 5 million, a number it reached just four months ago.
The crypto.com chain (CRO) token’s price has been fluctuating on the news. However, at the time of writing (10:36 UTC), CRO, ranked 20th by market capitalization, trades at USD 0.174 and is up almost by 15% in a day.
The token’s growth is over 100% on the past week, and comes just days after a huge jump on CRO prices following a huge token burn.
The operator said that it was burning the tokens in preparation for the launch of the CRO Chain mainnet on March 25.
In the blog post, Kris Marszalek, the firm’s CEO, was quoted as claiming that Crypto.com had seen “consistent double-digit growth rates month-on-month for over two years,” with a tenfold growth in revenues in 2020.
He added that the firm had more than tripled the size of its workforce in 2020, increasing the number of its employees from 250 to over 900.
The firm, set up in 2016, added that going forward it would seek to make “strategic investments in developing DeFi and non-fungible token (NFT) solutions.”