Crypto.com Aiming to Hit 100 million User Target by 2023 as CRO Surges

Adoption Bitcoin Crypto business Crypto.com Cryptocurrency

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated:

June 26, 2023 06:55 EDT

Why Trust Cryptonews

For over a decade, Cryptonews has covered the cryptocurrency industry, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships.

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.”
____
Learn more:
– 1 Million First-time Buyers Bought Bitcoin on Dorsey’s Cash App Last Month
– Regulatory Kaleidoscope Challenges Crypto Industry – Crypto.com CCO
– Crypto.com Rolls Back ‘Illegitimate Trades’ After System Maintenance
– Crypto.com Aims for Its First Profitable Year Despite Asian Setback