Dear PointPay family!
In 2022, the global economy was in a precarious position. Rising inflation and economic stagflation combined with escalating international conflicts resulted in growing fear and unrest. The cryptocurrency market also had a hard year, with bankruptcies and massive layoffs at leading industry players. The collapse of FTX had negative consequences all over the whole industry.
We have learned a lot from those events and are using that knowledge to build an ecosystem that can survive in any market condition. We have prepared a company report outlining our achievements in 2022 and plans for the next year.
Key highlights of 2022
In the first half of 2022, we've been working hard to broaden our product range by introducing new solutions such as Launchboard, Escrow, HR Talent and P2P platforms. We redesigned our website and applications to make them easier to use. We've redesigned our website and applications to make them more user-friendly.
We have implemented the Unified Balance System, which unified the storage of all balances and wallets. This allows us to streamline our operations and improve the user experience by offering greater transparency and control over user operations, as well as speeding up transfers between accounts.
In the second half of 2022, our company has attempted to anticipate the effects of a bearish market, taking proactive steps to secure business operations. We have lowered the interest rates that our customers can earn on their Staking and Savings accounts. Additionally, we have restructured our services so that users cannot receive a secured cryptocurrency loan.
Despite the overall market downtown, we have managed to improve our key metrics:
- The PointPay exchange's weekly trading turnover grew to $105 million in 2022, up 110% from the end of 2021.
- Our products saw a 130% increase in visits in 2022 compared to the end of 2021, with monthly active users reaching 305 thousand - a 52.5% increase over last year.
Our strategic goals for 2023
The goals set for 2023 are ambitious:
- First, we are going to improve the PointPay cryptocurrency exchange by releasing Spot Trading v 2.0 in order to increase the speed and accuracy of order executions. Furthermore, we plan to relaunch four types of orders, as well as increase the number of trading pairs on the exchange.
- Next, we aim to complete the PointPay ecosystem by providing users with a broad range of innovative cryptocurrency services. We plan to relaunch improved P2P and other refactored products to meet the highest user expectations.
- We will continue to work on obtaining a Banking license, which will allow our blockchain-based bank to conduct business globally. We are also pursuing further crypto licenses in other jurisdictions.
Download our PointPay Report for 2022, to learn about our achievements and strategic goals. We're dedicated to providing exceptional financial crypto services to users worldwide. Though the road ahead is bumpy, we will do our best to weather the storm and claim our place in the market.
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💰 Earn up to 7% yearly with PXP staking program in PointPay Bank: https://bank.pointpay.io/staking
💡 Check PointPay Live-Roadmap (PointPay development in real-time): https://pointpay.io/live-roadmap/
🏦 Remember, we are PointPay, and we are beyond banking!