Blockchain, COVID-19, Cryptocurrency

There’s Already 6 Million Crypto Wallet Users Globally Due to COVID-19 Situation

The Swiss administrator of the BRD crypto wallet insists it has more than six million users worldwide, with much of its majority of users based in India and the Latin America area – and COVID-19 supporting bring people to crypto in their droves.

Conversing to media outlet Tech Crunch, the firm stated that it is expected to have 10 million users on its platform by the next year’s initial months.

The company asserted it is now selecting up to 0.5 million fresh users per month – although it took BRD over four years to reach the one million post.

The BRD CEO and Co-founder Adam Traidman stated that the coronavirus pandemic had driven many first-time users to crypto, with falling interest rates in many areas also thought to be a driving factor for those wishing to safeguard their savings from the ravages of inflation.

Traidman told the publication,

“People have had a lot more time over the last six months to look at their investments and as a result of that, we found that for cryptocurrency in general, but especially for BRD’s business, we’ve been growing dramatically.”

Traidman added that BRD had 550,000 monthly active users at the beginning of July.

The firm recently received an investment injection of USD 15 million, which it said it is hoping to help power its expansion into Asian markets.

BRD has raised some USD 55m in funding to date. Its backers include East Ventures and the financing arm of SBI – the Japanese financial titan that today closed up a controlling stake in the Yahoo Japan run TaoTao crypto exchange.

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