Happy New Year, Request enthusiasts!
Welcome to another monthly edition of Request Finance in Numbers, where we’ll be reviewing our app’s growth and usage metrics since our last update.
This monthly report is aimed at providing transparency to our users, community, and others interested in Request.
User & Activity Growth in January 2023
- 📝 New signups on Request Finance: 929, bringing the total number of registered accounts to 21,262.
- 📋 Monthly active users on Request Finance: 1,437
- 📈 Number of crypto payments monthly: 1,838
- 💸 Value of crypto payments monthly: $12.8 million
- 🧾 A total of over $286 million in crypto payments have been paid through the Request Finance app since launching in January 2021.
- 💰 Top 5 cryptocurrencies used: $USDC, $SAND, $ANKR, $USDT, $DAI
- 💳 Top 5 chains used: Ethereum, BNB Chain, Polygon, Celo, Fantom
Note: This report exclusively looks at usage data from the Request Finance product, not including other apps which may build on top of the Request Network protocol. This report excludes payments settled in fiat currency. We believe the most exciting opportunities lie in the adoption of programmable money for real economy uses like subscriptions, salaries, billing, etc.
Commentary for January 2023
Overview. Despite the chaos of 2022, thousands of Web3 teams used Request Finance to pay just over $100 million in crypto invoices, payroll, and expenses. We see this as evidence that enterprise payments is a compelling use case for crypto. That’s why we’re focused on helping remote-first, globally-distributed teams to simplify and automate crypto payments.
At the business level, January saw a higher total value of crypto payments transacted, despite fewer transactions made compared to the previous month.
Crypto-native companies that make payments, or get paid in crypto remain our ideal customers. We are also actively looking to partner with new chains, and stablecoin issuers to power invoice, payroll, and expense payments in their ecosystems.
At the product level. As we enter 2023, we continue to focus on building what our users tell us they need. Our team is working on new features to make the app better for enterprise teams. Organizational features include the ability to add admins, and other team members to match the approval workflows, and other financial controls and processes.
You can expect to see new reporting dashboards so that teams can easily get an overview of their crypto cash flows each month, see their outstanding payable items, and forecast their projected spending.
On/off ramping between fiat bank accounts, and your crypto wallet is important to adoption. Many teams getting paid in crypto still have limited avenues to spend their crypto - without high fees. We are working on introducing new integrations to make on/off ramps to bank accounts in EUR and USD a more seamless process.
Lastly, we have been working to make self-onboarding easier. Request Finance is used by everyone from individual freelancers to large organizational teams. Not everyone needs, or wants to have to speak to a member of our team to learn how to use all the features in the app. Our product team is working to make it easier for you to navigate and learn about the app on your own.
New Crypto Payment Options
We recently added support for a new chain: Moonbeam, the EVM-compatible parachain on Polkadot. Users can now transact with tokens on the Moonbeam network.
We also added support for $BIT, the native token of BitDAO.
The number of cryptocurrencies supported on Request Finance is second to none, and continues to grow each month. Freelancers, DAOs, and crypto project teams can now send and receive payments in 150+ cryptocurrencies and stablecoins, 9+ fiat currencies, and 14+ blockchains.
If you’d like to see a token or chain supported in Request Finance, reach out to us on Twitter!
Request Finance is a chain-agnostic B2B crypto payments platform. We can support invoicing, salary payments, and more in the preferred tokens of any new Layer 1 or Layer 2 ecosystem.
Our extensive support for new payment options enables projects across different chains to transact seamlessly with each other in their preferred token.