TechX says portfolio cryptocurrency exchange company Catalyx sees major Q1 revenue and transaction growth

TechX Technologies Inc (CSE:TECX) (OTC:TECXF) (FRA:C0B1) has said its portfolio company, Catalyx Exchange achieved significant growth in trading volume, daily users, deposits and revenue in March and for the first quarter as a whole

Catalyx is a Canada-based, FINTRAC-registered digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. It operates Catalyx.io, a cryptocurrency exchange in the country. 

Trading volume increased by 91% month-over-month to C$28.4 million in March, from C$14.9 million in February. Deposits jumped by 163% to C$9.1 million from more than C$3.4 million, and revenue improved 76% to C$275,540 from C$156,754 over the same span.

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“We are very pleased with our ongoing growth, which is reflected in our numbers from January, February and now, March,” Catalyx CEO Jae Park said in a statement. “Catalyx continues to focus on user acquisition and revenue growth and we expect to see our trading volume, deposits and revenue continue to grow along with the booming market.”

For the quarter ended March 31, 2020, Catalyx’s trading volume surged by 1,542% quarter-over-quarter to C$47.3 million from C$2.9 million in the fourth quarter of 2020. Transactions grew by 3,642% to 44,583 from 1,191, and revenue rose 545% to C$529,725 from C$82,173 over the same time period.

“Once again, Catalyx has revealed exciting growth numbers for last month, which came at no surprise considering the ever-growing excitement surrounding crypto, along with the exchange’s superior features such as having the tightest spreads, fully-featured order book and the lowest price for bitcoin in Canada,” TechX CEO Peter Green said.

“The results from the first quarter of 2021 have been extremely encouraging and we look forward to seeing an even bigger increase across the board when those results come in at the end of the month. It’s clear that Catalyx is the top crypto exchange in Canada and we are very happy to be partnered with them,” he added.

TechX Technologies, based in Vancouver, invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

Contact Andrew Kessel at [email protected]
 
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Story by ProactiveInvestors