LONDON, Feb. 13, 2019 /PRNewswire/ -- Cryption SMS, the UK's largest cryptocurrency trading platform, expects to rake in between £100 million and £500 million in net profit during 2019. CEO Olga Zinovsky revealed this bullish target during an interview with Bloomberg, highlighting the whirlwind pace at which the exchange has grown since July 2017, when the then-US-based platform opened for business after raising a modest $15 million through an angel investment scheme.
As CNN reported, Cryption SMS's user base more than quadrupled during the first half of last year, from 200 thousand in January to nearly one million in early June. Now, Cryption SMS has more than 1 million registered traders, and the company's breakneck rate of expansion makes it likely that the platform will continue to onboard new users at a steady pace.
Last month, Cryption launched a cryptocurrency exchange in Uganda, and this platform became the first under the company's banner to offer fiat trading pairs. The firm has also announced plans to offer trading against the euro in some jurisdictions, a development made possible through its budding relationship with regulators in the island nation of Malta.
Cryptocurrency looks like its here to stay with many countries now looking at adding regulatatory measures as more and more people invest in this emerging blockchain technology
SOURCE Cryption SMS