October 2019 Report & Analysis – The CPay Foundation Blog

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With the dramatic surge in the BTC price over the last weekend and the launch of GBP bank transfers with Faster Payments Service, October was quite a special month for the crypto community in general and for us specifically. Without much ado, ladies and gentlemen, just look at those numbers.

The Numbers

Total October 2019 revenue: € 331,528
October 2019 Revenue share: € 33,153
October 2019 Revenue share in ETH: 201.1818 ETH
Share per 100 CPAY: € 0.037
Distribution date: November 8th, 2019

Analysis

As we wrap up October 2019, the first thing that comes to mind is the end-of-the-month weekend frenzy when Bitcoin recorded an over 40% daily gain from the lows below 7,400 to high above impressive 10,300(!). The fourth-largest daily surge in history for the leading cryptocurrency was made possible after the Chinese president remarked the previous Friday that China should speed up its adoption and application in blockchain technology, and here we are. The bitcoin price has since lowered and is briefly touching the 9,000–9,300 levels at the moment.

News-wise, the previously highlighted developments had a mix of successes and failures — the most noticeable success being the massive upgrade to its blockchain trade finance platform by the China Construction Bank. However, Facebook’s Libra faces more headwinds from both the global regulators and the community (not to mention its internal struggles), and the SEC has obtained a temporary restraining order to halt the TON launch, which was supposed to happen by the end of October 2019. While the news background is primarily neutral/borderline negative, there is a reasonable chance that any major development from China’s state blockchain and DECP could continue to drive the market.

B2C updates

The number of B2C customers increased by 12% in comparison to September 2019 not only due to the newcomers but to the segment of reactivated customers, who further contributed to the significant growth of revenue. The average revenue per user almost reached the peak value for 2019 — which was observed in July 2019 — due to an increase in the average check per transaction. The revenue from users utilising bank deposits for crypto purchases increased by 30% compared to the previous month, perhaps triggering the dip in instant card deposits (20%); however, the revenue from regular card deposits remained at the level of September 2019. The trading volume of users who only do cryptocurrency exchanges has tripled with total traffic temporarily decreasing by 20%.

We’re also happy to announce that our recent GBP transfers integration via Faster Payments has so far been rather successful and awakened a lot of interest in our long-time clients and newcomers alike, so we have confidence it will become a stable element of income in the future. Due to circumstances beyond our control, the much awaited card programme doesn’t have a launch date yet — a temporary setback, which we are going to spend optimising our internal services and making a faster, smoother and all the way more enjoyable experience out of our app.

B2B updates

The B2B revenue has grown by another 15% once again reaching record levels: last month it increased by the same 15%, so that’s becoming quite a tradition.

We’re continuing to hone and perfect our payment widget for even more user-friendly payments as well as our range of monitoring tools for crypto transactions and payments risk assessment tools — apart from webhooks, for example, our users can now enable email alerts. We’ll also be adding new cryptocurrencies for our B2C clients to choose from in the future (more about it in the following issues).

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