The year 2023 has brought significant changes compared to what we anticipated in 2022. We have witnessed numerous groundbreaking developments that have shaken up the crypto ecosystem throughout both years.
We witnessed the collapse of major exchanges, DeFI platforms, and firms, leading to a drop in crypto prices and a loss of trust among businesses, high-net-worth investors, and venture capitalists. As a result, many users sought refuge in self-custody, which has led to an increase in self-custody solutions like MPC (Multi-Party Computation).
However, the year 2023 has been great for Bitpowr. We have reached new heights from both a business and product perspective, and have shipped new awesome features for our customers.
In December 2022, we were processing $2m per month. However, by September 2023, our processing volume increased significantly to over $16m+ per month. Additionally, in 2023 alone, we successfully onboarded and partnered with more than 50+ interesting customers in Asia and Africa, each with unique use cases.
On July 2023, I tweeted that Bitpowr processed over $70m+ in Total Transaction Volume (TTV) on X. It only took a little over a month to reach over $100m+ by late August. And then, within 4 months, that amount doubled.
Crossed $70m+ already. We processed around $13m+ TTV in June alone. Glad this is growing. https://t.co/aMKnSYcYtF— Oyetoke Toby (@OyetokeT) July 7, 2023
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+.
Speaking of blockchains, we integrated 3 Layer 2 blockchains such as Base, Arbitrum, and Optimism. Additionally, we integrated other chains like Near, Avalanche, Hedera, and Tezos.
Over the last few months, we have experienced a huge surge in interest in self-custody solutions giving rise to solutions based on MPC and also account abstraction smart wallets for better user experience on the EVM chain.
Bitpowr was started as a blockchain infrastructure for businesses to remove the complexity of working with digital assets and build blockchain-powered products.
We launched our first product, Bitpowr Custody, in January 2022. It is a wallet infrastructure and MPC-based custody solution that allows businesses to securely manage digital assets and issue secure wallets for their customers.
One of the main requests was to enhance the functionality of the generated wallet interactions, like allowing users to interact with decentralized finance (DeFi), sign raw transactions and messages, perform on-chain interactions such as swaps, and give the option to organizations to offer full control of the wallet to end users.
This has enabled us to realign with our initial vision of a programmable secure wallet and self-custody solution, providing absolute control and security over users’ assets.
Our goal for next year is to simplify the management of daily on-chain crypto strategies and operations for organizations and high-net-worth investors, while securely issuing programmable wallets for users, and signing and approving transactions with a flexible and customizable policy engine via our Developers API.
To wrap up the year, we have begun the process of conducting our SOC 2 Type II and ISO 27001 audits in 2023. We expect to obtain full certification by Q2 2024. This is a significant achievement for us, as it significantly improves the security of our users’ data and assets. It marks a major milestone for Bitpowr.
As we continue to advance our mission in 2024, we remain committed to actively listening to our customers and addressing the problems you have shared with us. We would be delighted to have a brief call with you to discuss how we can assist you. By engaging in conversations with our customers, we gain valuable insights into their needs and how our products impact their operations. This ongoing dialogue has played a significant role in driving our continuous improvement. To schedule a call, please click here or you can just send an email to [email protected].
Thank you for trusting Bitpowr and giving us a reason to build. On behalf of the Bitpowr team, I wish you, your team, and your loved ones a happy new year and prosperity in 2024.