Mercuryo Sees 350% Business Growth with Global Wallet Users Hit 2.2 Million

On January 27, Mercuryo, a global crypto payments company based in London, announced that more than 2 million users have used its multicurrency wallet service. This represents over 350% growth in its customer base since last year. As a main product among the company's offerings, the multicurrency wallet is a custodial solution with built-in crypto on-ramp functionality that enables customers to manage their digital asset holdings as conveniently as local currencies.

Mercuryo stated that 2021 was a busy year for the company. During that year, the crypto firm made its expansion into the Asian and US markets. As a result, the expansion efforts enabled the firm to grow its customer base through both B2B partners and through its own B2C wallet in Indonesia, Brazil, and Mexico.

Besides its rapid expansion into global markets, Mercuryo is celebrating a record-breaking beginning to the year 2022. The company is already witnessing new highs of monthly transaction volumes of up to €80 million and growing its wallet service's user base to 2.2 million customers globally. This represents a 355% rise from 2021's 485,000 and nearly 50-fold growth since 2020.

In the entire last year, Mercuryo grew its list of B2B partnerships to more than 200. The partnerships featured major deals with top digital asset enterprises like ADVcash, Bybit, Bithumb, Bitfinex, 1inch, Trust Wallet, Trezor and Binance. Apart from that, Mercuryo secured $7.5 million in a Series A funding round led by a pan-European VC firm, Target Global. Mercuryo is on track to accelerate its growth and become the go-to infrastructure provider for crypto-fiat on- and off-ramps.

How Mercuryo Is Accelerating Financial Inclusion

The announcement by Mercuryo comes at a time when the crypto firm remains dedicated to accelerating its international expansion. In June last year, the company raised $7.5 million in a Series A funding round meant to launch a crypto-based debit card to enable its users to spend directly from their crypto balance held in their wallets. Additionally, Mercuryo plans to use the capital to expand into new markets and launch business solutions enabling any company to become a Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term without dealing with the complications. Besides that, the firm plans to expand its business into Asia-Pacific and Latin America regions.

Mercuryo started onboarding clients in April 2019, and, as a result, it witnessed an annual recurring revenue that crossed the $50 million threshold. The company was founded in 2018, a year when it raised more than $10 million series A funding round led by angel investors.

Petr Kozyakov, Mercuryo’s Co-Founder and CEO, recently highlighted the company’s priorities: “The need for fast and efficient international payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, especially for businesses, is as relevant as ever. Our team has a clear plan of making crypto universally available by enabling cheap and straightforward transactions. Cryptocurrency assets can then be used to process global money transfers, mass payouts and facilitate acquiring services, among other things.”