Coinchange Updates
Jan 15, 2024

Coinchange 2023: A Year of Transformation

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Coinchange 2023: A Year of Transformation

2023 was a landmark year for Coinchange, characterized by groundbreaking research, substantial business growth, and significant strategic developments in the cryptocurrency landscape. This article provides an overview of the major milestones and achievements that defined our journey throughout the year.

Revolutionizing Research in Cryptocurrency:

Our dedicated research team, Jerome Ostorero and Pratik Wagh, made remarkable contributions by publishing three extensive research reports. These reports provided deep insights into critical areas of the crypto industry, including:

  • "Crosschain Interoperability and Security," co-authored with LI.FI, Hacken, and the Cross-Chain Coalition, highlighted the need for secure and efficient interoperability among blockchains.
  • "Institutional DeFi and Regenerative Finance (ReFi)" was a collaborative effort with industry leaders like Securrency and Toucan Protocol. This report explored how Institutional DeFi is transforming traditional financial services and contributing to sustainable financial practices through Regenerative Finance.
  • "Stablecoin Landscape and the Remittance Use Case" examined the evolving role of stablecoins in global remittances, providing a detailed analysis of market trends and practical applications. This report was a collaborative effort with industry pioneers such as Hedera, Myna, Unocoin, Brale and Glo-Dollar.

Business metrics: a story of our growth:

Coinchange's journey through 2023 is a tale of exponential growth:

  • Revenue growth of 100%, underscoring our expanding market presence.
  • A fivefold increase in our client base, reflecting growing trust in our platform.
  • Doubling of trade volumes, showcasing our platform's robustness and reliability.

Product Innovations:

The year witnessed the launch of our prepaid cards payout, further diversifying our product offerings.

Key Partnerships:

We also established significant partnerships for our Earn product with industry giants like Unocoin, Kanga, and Conomy, enhancing our service capabilities. Our partnership with Bytedex to offer the Stablecoin Earn feature to their users marked another strategic milestone.

Funding Success:

Our successful $10M funding round in November, led by G1.VC, Spirit Blockchain, Good News Ventures, K2.CA, and Atoia Ventures, with participation from Mintfox, marked a significant milestone. This achievement received notable coverage in industry-leading publications like The Block & Coindesk, further cementing our position as a leading player in the crypto market.

X-spaces Highlights and Global Reach:

In December, over 21,000 people attended one of our most significant X-Spaces events focused on global exchanges, highlighting our growing influence in the crypto community.

Euro Currency Support Enabled:

The announcement of EUR support was a key development, enabling clients worldwide to use Euros on their Coinchange accounts. This expansion not only enhanced our service accessibility but also catered to a broader international client base.

Looking Ahead:

As we embark on 2024, Coinchange is poised to continue its trajectory of innovation and growth. Our commitment to providing cutting-edge solutions and driving the crypto finance industry forward remains stronger than ever.
For a detailed look at our journey and achievements in 2023, we invite you to read our comprehensive report. Click here to access the full report.

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