COVID-19 Spurs Crypto Adoption Says BRD Wallet as it Hits 6m User Mark
The Swiss operator of the BRD crypto wallet claims it has in excess of six million users worldwide, with much of its growth coming from users based in India and the Latin America region – and COVID-19 helping bring people to crypto in their droves.
Speaking to media outlet Tech Crunch, the firm stated that it expected to have 10 million users on its platform by the early months of next year.
The company claimed it is now picking up 0.5 million new users per month – although it took BRD over four years to pass the one million post.
The BRD CEO and Co-founder Adam Traidman stated that the coronavirus pandemic had driven many first-time users to crypto, with falling interest rates in many areas also thought to be a driving factor for those wishing to safeguard their savings from the ravages of inflation.
Traidman told the publication,
"People have had a lot more time over the last six months to look at their investments and as a result of that, we found that for cryptocurrency in general, but especially for BRD’s business, we’ve been growing dramatically."
Traidman added that BRD had 550,000 monthly active users at the beginning of July.
The firm recently received an investment injection of USD 15 million, which it said it is hoping to help power its expansion into Asian markets.
BRD has raised some USD 55m in funding to date, and its backers include the likes East Ventures and the investment arm of SBI – the Japanese financial giant that today snapped up a controlling stake in the Yahoo Japan-run TaoTao crypto exchange.
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