BitPowr, a prominent provider of digital assets custody and blockchain infrastructure, has reached a significant milestone by surpassing $200 million in total transactions processed on its platform since its inception in January 2022.
“In 2023, we processed over 15 million API calls made by our customers and handled more than 700,000 transactions across multiple blockchains worth over $200m+,” the company has indicated.
According to Toby Oyetoke, the Co-Founder of BitPowr, Asian customers have outpaced African customers in terms of their contribution to the company’s achievement of the $200 million transaction milestone. This underscores the increasing demand among financial institutions in the Asian market for convenient access to blockchain tools and infrastructure necessary for the launch and expansion of their products and services.
“Currently, we do up to $20 million per month in terms of traction volume processed, and that is from April 2022 till now. We now generate more revenue than we spend. We are cash flow positive,” said Oyetoke.
Moving forward, BitPowr plans to broaden its presence in the Asian market, focusing particularly on Southeast Asia. While maintaining its operations in Africa, the company aims to bolster its global ledger and wallet infrastructure as part of its expansion strategy into the Asian market.
“To fuel this move, we will hire people from Asian countries who will help us market our services in the Asian countries, then hire more when we check our growth process after four months into the transition.
There is a good demand from Asia right now. We are seeing increasing representation in transaction volume which also translates to an increase in revenue for us,” said Amarachi Amaechi, the Co-Founder and COO of BitPowr.
Additionally, BitPowr announced its SOC 2 compliance and the commencement of the ISO 27001 audit process through a partnership with Thoropass. This step underscores the company’s dedication to upholding the utmost standards of security and compliance.
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