Coinchange 2021 Recap

2021 has been an absolutely incredible year for Coinchange and our team. This year proved to be a major turning point not just for the cryptocurrency market but also for our company, as we’ve achieved so much in such a short period of time.

With the holidays approaching and the year finally coming to a close, what better way to end than to celebrate our amazing accomplishments and growth throughout this year.

On that note, here’s the highlight reel for Coinchange’s fantastic 2021!

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Company

Growing Our Team 

The Coinchange team has experienced exponential growth this year, thanks to major efforts by everyone to continue to develop, push, and promote our platform and products. We’re now proud to say that we have scaled to a total of 60 team members!

A big shoutout goes out to the entire team for a fantastic year – this wouldn’t have been possible without the dedication and hard work. 

Over 100,000 Users

In early December, we surpassed 100,000 users who signed up for our platform – an amazing feat that we’re extremely proud of. Now, just a few weeks later in late December, we’ve hit over 116,000 users and are continuing to grow our customer base at rapid speeds.

That total includes 70,000 users who have successfully undergone KYC (Know Your Customer) verification, adding an extra layer of security to their accounts and helping ensure we remain compliant with federal regulations.

Raising Funds

Coinchange has made huge progress this year in regards to receiving the necessary capital to help propel our growth efforts. We’re pleased to announce that we completed a fundraising round of $5 million from our investors in 2021, providing us with the capital we need to continue charging forward into 2022 and beyond.

EU Entity

We’ve recently submitted paperwork and are filing to register an EU entity in Poland, which will allow us to open an office in the capital of Warsaw. Establishing ourselves in Europe is a critical step in our future development, as we’re looking to expand our global footprint to grow our user base and reach wider markets.

Regulatory Updates

Our company received FinCEN and FINTRAC licenses, allowing us to operate in a more regulated and compliant reporting manner within the United States and Canada. In addition, we were audited by Grant Thornton, the sixth-largest accounting and advisory firm in the United States and one of the most credible - we’re committed to full transparency and authenticity. 

Additionally, we’ve submitted applications for 32 MTLs (Money Transmission Licenses) to operate and serve residents across the United States.

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Product Launches

Earn Account

We officially launched our Earn Account in August, marking a huge milestone for our company by allowing our users to earn some of the highest interest rates available across our integrated DeFi protocols. USD Coin (USDC) and Tether (USDT) are currently available, with Bitcoin (BTC) and Ethereum (ETH) available for select users and opening for everyone soon.

The Earn Account also comes built with portfolio management and security features, such as automated hedging strategies to eliminate impermanent loss, models to maximize yield, risk assessment processes, and much more - you can read additional information about these here.

These strategies and measures we’ve put in place are unique to Coinchange, allowing us to provide you with a smarter and more secure way to earn on your crypto relative to the competition.

Coinchange Mobile App 

Coinchange launched our mobile app in November, giving our users access to our platform from their phones – everyone was now given the ability to earn interest on the go, making it easier than ever to get started using our product. 

It comes jam-packed with an intuitive user interface and smooth user experience that’s compatible with both Android and iOS devices.

Quick Invest & Direct Bank Transfers

Quick Invest is a new and powerful feature that allows you to immediately convert fiat transferred to Coinchange into a stablecoin - all you need to do is click a button and your cash transforms into a cryptocurrency that instantly begins earning high yield. 

We also enabled direct bank transfers via ACH, improving upon our fiat onramp that serves as a bridge to move assets directly from the bank to your Coinchange account. 

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Integrations & Partnerships

Blockchain Integrations

This year alone, we’ve made huge progress with integrating some of the largest and most popular blockchain platforms on the market. Here are the four that we’ve added support for in 2021:

• Ethereum
• Binance Smart Chain (BSC)
• Terra
• Polygon

These blockchains help power our platform and provide a diverse set of options for our customers in terms of the protocols and applications available - currently, we have five risk-managed yield-generation strategies developed on three of these blockchains.

Partnerships

To spice things up and help spur additional growth for bringing DeFi and crypto yield opportunities to the broader market, we entered into several major partnerships this year that have already proven to be extremely successful:

1. Partnered with UFC Heavyweight fighter Alexander Volkov, who joined Coinchange as our first heavyweight ambassador in October - the partnership was kicked off with a signup bonus promotion on our website
2. Collaboration with Team Empire, a professional Esports organization, that works with us to help introduce DeFi to their users as well as larger sports audiences. We brought them aboard earlier this month as an ambassador, and we look forward to a fruitful long-term partnership
3. Joined forces with VIP Nightlife, a popular event booking website for nightlife activities and venues in the United States and Canada
4. We became a VISA Fintech Fast Track partner, which will allow us to accelerate onboarding onto their platform so we can leverage their powerful technology and network
   

Other key partnerships included: 

• Chainlink
• Fireblocks
• Jumio
• KYC2020
• Silvergate Bank

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A Big Thank You

Last but not least, we want to thank our incredible community for making such an exciting and fruitful year possible - our community members are the backbone of the Coinchange platform.

We look forward to bringing you exciting upgrades, remarkable service, and more to make 2022 an extraordinary year for our customers! 

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