8 months ago
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In his interview with U.Today, Vladimir Gorbunov, the Founder of Vault, shared the company's plans to reach $60 million in revenue by the end of 2024 and $180 million by the end of 2025. Gorbunov believes that the crypto-banking market has both the size and demand to achieve these revenue plans, and is favorable for Vault to secure its leadership position in the b2b sector which remains one of the company’s primary goals.
Vault is a ready-made digital and cryptocurrency banking infrastructure designed to be integrated by third-party partners. Built on top of the Choise.com infrastructure, it offers a range of crypto banking solutions for all types of businesses, from cryptocurrency startups to banks. Vault’s products include a card program, core banking, SWIFT, SEPA transactions, compliance, and more.
In the interview, Gorbunov explains that the company's business model involves a series of long-term contracts, with Vault receiving an average of $80,000 for onboarding each client, along with monthly payments that range from $8,000 to $10,000. In the first year alone of Vault offering crypto-banking solutions to businesses, 40 contracts were signed worth approximately $18.5 million in contract value.
However, the founder points out that these figures are still lower than what businesses would have to pay for a native solution and that Vault’s high prices has not affected the demand for its services. He also highlights that the number of companies that are interested in such integrations is high enough to further encourage the mass adoption of cryptocurrency which is Vault’s top priority. Especially, because only 25% of the company’s clients are crypto-specific.
“Likely, large banks such as CITIBANK, JP Morgan Chase & CO are implementing their own solutions, but there are tens of thousands of banks worldwide, tens of thousands of fintech services, and an infinite number of companies that would like to integrate such solutions. Our goal is to enable any company in the world to offer digital/crypto banking functionality to its clients, thus ensuring the mass adoption of cryptocurrencies.”
Vladimir Gorbunov emphasizes that the main focus remains on Vault, but he does not rule out further initiatives with Choise.com and teases developments in the B2C direction. He also mentions that Vault, as the fastest-growing company in the Choise.com ecosystem, is considering how to scale its success to the CHO token.
CHO was introduced to the Choise.com ecosystem back in 2022 to power it and is now used for staking, voting, promotion and gas fees. At the time of writing, CHO's price, which has been growing significantly over the past three days, sits at $0.2834 with a market capitalization of $3,104,904.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
