Currency.com, a crypto trading platform, exploded with popularity last year, the company today said in a statement.
The UK based exchange, which covers both crypto and traditional markets, grew the number of its clients fourfold in 2020 compared to 2019 — a 374% increase in the number of users. Currency.com users also generated a cumulative trading volume of $16 billion last year.
“Just over a year ago we launched this revolutionary blockchain venture that provides crypto investors with a concrete option to diversify their portfolio by investing in traditional asset classes using cryptocurrencies,” said the company’s CEO, Jon Squires.
“Over the past 12 months we saw great traction both in the number of clients signing-up to the platform — from over 140 countries — and in the number of trades made,” he added. “We are continuing to invest in the safety and security of the platform and in expanding our offering and services.”
Currency.com, launched in 2018, lets users to buy and sell cryptocurrencies as well as trade tokenized real-world assets including leading shares, indices, commodities and currencies that mirror the value of the asset. It obtained a license to operate by the Gibraltar Ministry of Finance this previous summer.
The exchange has exploded in popularity in the past year mainly because of the bull run: more and more people want an easy-to-use exchange to get started with crypto and Currency.com claims to provide that.
Currency.com also said that the number of clients who made their first deposit to the platform increased by 447% in 2020, and the total sum of deposits increased by 490%.
But the exchange is not just popular for its access to cryptocurrencies like Bitcoin. Of the top ten most traded assets on the platform, half are from traditional finance, including gold, silver, oil, and US Treasury bonds.