Early this month, mobile crypto wallet BRD publicized that it now serves over 6 million users globally due to increasing usage in South America and India.

The firm also mentioned that it currently onboards 1 million new app users every 2 months. But that’s after a 4-year-long struggle to even reach a million customers.

Created just recently in 2015, the Zurich-headquartered BRD has undoubtedly managed to attract a multitude in its half-decade of operation. At this pace, the firm may as well touch its 10 million customer-base target by the start of 2021.

BRD’s user-base touched a per-month average of half-a-million (550,000) customers by the beginning of July triggered mainly by the Coronavirus pandemic, according to CEO Adam Traidman.

“We noticed increasing adoption of digital currencies among existing users and newbies as soon as stay-indoor rules went into effect,” Traidman says. “Most people were pushed to rethink their investments over the last 6 months, which positively affected cryptocurrency and our mobile wallet business, in particular.”

BRD is a mobile (and non-custodial) wallet, and digital currencies are stored in a users’ devices, making it handy in nations that subject citizens through a hectic custodial wallet application process. The smartphone app also enables users to buy crypto through their credit cards and Apple Pay.

This convenience explains its increasing adoption in different countries, said Traidman,

BRD Now Depends On These Two User Categories;

1. Millennials with personal earnings, which they prefer to invest via modern rather than conventional brokerages.
2. Pandemic-affected people looking to turn to crypto for two reasons; (i) to cope with unpredictable currencies and (2) as a more economical alternative way transfer funds worldwide amid a crisis. Plummeting interest rates in banks have also pushed many individuals to turn to alternative financing services.

Though Bitcoin & Ethereum remain the most common digital currencies bought via BRD—in nations with fluctuating currencies like Argentina, India, and Venezuela—more users are considering stablecoins, which are tied to the US dollar.

The mobile wallet has also attracted more users in some Eastern European countries.

BRD’s latest funding round was a 15 million Series B, publicized in Jan 2019. It channeled the finances into expanding its footprint in the Asian Zone,

Final Words

BRD is perhaps one of the few firms offering real remedies to customers amid a pandemic and has so far grown exponentially due to its efforts.

Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated Cryptocurrency Payments processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.