Now that the platform has reached scale, it has begun unit optimization economics, said CEO Kris Marszalek.
Exchange Platform in a ‘Good Place’
Crypto.com CEO Kris Marszalek explained the importance of increasing its user base and revenue to scale in the industry. The popular cryptocurrency exchange platform seeks to continue expanding and attracting users in the crypto space.
Marszalek explained through a Twitter thread on July 5 that the exchange platform pushed to increase adoption and revenue in 2021, given the favorable market conditions. The massive push was in preparation for the bear market, which would reduce revenue.
After considerable success in achieving scale, Crypto.com sought to “optimize unit economics.” Marszalek said that optimization of unit economics kickstarted in Q1 and has put the lending and borrowing platform in a “good place.”
While Crypto.com continues to scale and enact unit economics optimization, some users remain skeptical about its development. Marszalek countered FUD suggesting that Crypto.com slows down withdrawals and runs special deposit promotions. Additionally, the CEO said that FUD does not stop Crypto.com from retaining its place as a leading name in the industry:
“People are free to FUD all they want, but this doesn’t change the facts: Crypto.com will be a top5, maybe even top3 crypto platform globally by revenue this year. Only two other players have higher user count than us.”
Further, Marszalek added that there is much work to be done as Crypto.com will keep working on improving its number of users and crypto holders globally.
What is Crypto.com:
Crypto.com is a cryptocurrency exchange that started operating in 2016. It has extended its reach to over 10 million users within 5 years. The platform was founded by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo, with its headquarters in Singapore. In addition to the cryptocurrency application, the platform also runs the Crypto.com Visa card, one of the world’s largest cryptocurrency card programs, the exchange, and a DeFi wallet. The exchange operates across 3 continents, the Americas, Europe, and Asia.
For more information about the project:
Source : bsc.news
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