January 16, 2021 | AtoZ Markets – With 2020 drawing to a close, Crypterium, a global fintech startup, has launched a promotion to celebrate an upcoming third anniversary, as well as the upcoming yuletide season. Crypterium Wallet kicks off this holiday season with a limited promotion designed to bring prosperity to all new customers. Everyone signing up in the upcoming weeks will have the opportunity to open a CRPT savings account that pays an ultra-high annual yield of 21%.
Between October 31, 2017, and January 6, 2018, CRPT tokens were issued by the Crypterium AS financial institution in an ICO. However, the token sale was terminated early after reaching its hard cap. An escrow company was thereafter engaged to receive the funds from the CRPT sale. In June 2018, the firm received a legal opinion letter from the American legal firm Blockchain Law Group on the ICO’s compliance.
It has been 3 years since the start of the company, and Crypterium has decided to give back to new and existing customers.
Starting from December 29, 2020, new Crypterium users will be able to earn 21% in annual interest by depositing CPRT tokens in their savings account. In comparison with standard deposit accounts, Crypterium is offering an annual rate that is two times higher than the average market rate. All CRPT deposits will be capped at 2000 CRPT per user. This activity is valid until January 11, 2021, or until the total deposit amount of 8,400,000 CRPT is reached.
As per the security of user funds and the risk involved, the Crypterium team has revealed that its offer is a low-risk strategy that will encourage users to open new accounts and invest in the ecosystem. Meanwhile, Crypterium accounts are protected with 3-layer security, anti-fraud protocol, and insured by BitGo.
The promotion is open to every new user in the Crypterium ecosystem and has a one-year deposit duration period. And although the annual earning is 21%, participants will receive monthly payments.
The Crypterium Solution
The promotion is coming barely 3 months after the firm sealed a partnership deal with Apple Pay. Before Apple Pay, the firm has also had dealings with Visa and UnionPay last year and this year.
At the center of its solution, Crypterium aims to introduce transparency and efficiency to everyday digital transactions. Its simple yet powerful solution has earned it recognition as one of the most promising decentralized banking platforms across the globe.
Within two years of going live, the company has launched the first crypto-to-fiat payment card which is currently available in over 180 countries. Through its partnership with Visa, the firm was able to issue contactless free Crypterium Visa Cards. The cards are usable in over 43 million retail locations across the globe.
Interestingly, Crypterium is not trying to reinvent the wheel. The firm is tapping from the existing resource of traditional systems. Current CEO, Steven Parker, who was a former General Manager at Visa, puts it succinctly when he said:
“We have to admit that the infrastructure of the payment networks of companies like Visa and MasterCard are huge; you’re not going to rebuild that… So reusing the rails that already exist is a way to get quick adoption, and to create sort of hybrid solutions.”
Furthermore, the Crypterium team has deployed an all-in-one wallet solution to simplify digital assets management. The Crypterium wallet is a secure, single-access wallet that allows users to buy, store, send, exchange, withdraw, and spend digital assets on the go.
To date, the Crypterium Wallet and its Visa Card are serving over 350,000 individuals around the world.
Meanwhile, the entire ecosystem is powered by the CRPT token – a utility token designed to be used for B2B/B2C products and services within the ecosystem.
The Year in Retrospect
Despite the global economic crisis caused by COVID-19, Crypterium has managed to hit some remarkable milestones. This year, they have created 15 different products and services that collectively hit a total transaction volume of over €100M.
The firm also launched the first crypto-to-fiat payment card, the Crypterium Virtual Visa Card, which is compatible with Apple Pay. This is in addition to a strategic partnership with FreeTON Blockchain.
On the wallet side, Crypterium added a plethora of features such as cross pair exchanges, cashout improvements, AI Price Predictions tools, and a savings account.
In 2021, the team is hoping to scale business operations and increase profitability.
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