Coinify Aps

Beskrivelse af virksomhedens væsentligste aktiviteter

Primary activities
Coinify’s primary activities remain focused on two product offerings, as in previous financial years; Payment Services and On/Off ramp Services. Payment Services focused on helping Payment Companies support an emerging need to conduct payments in Digital Currencies, and On/Off Ramp Services, for Retail Consumers, Family Offices and High Networth Individuals, looking to buy or sell Digital Currencies.
The Payment Strategy For Payment Companies, who want to serve an emerging consumer payment need, Coinify stands out as the most reliable and trusted payment infrastructure Provider that aligns with the needs of compliance-conscious businesses. Coinify offers a tailored value proposition to Payment Companies worldwide. Coinify is the first choice for any compliant, conscious company looking to accept cryptocurrency payments. Coinify is widely adopted in Europe and internationally by exclusively serving the World's largest Payment companies, and allows merchants to enable benchmark compliance and reliable method of accepting crypto payments. Coinfy has noticed a growing demand for our invoice service, which has prompted us to explore new markets outside of our current customer base. As a result, we have decided to open an office in the Middle East to better serve our existing clients and reach out to new ones. We are excited about the opportunities this move will bring and are committed to providing top-notch service to all of our customers. As regulation is continuing to build up in the global markets of digital currencies Coinify stands out as the only choice for Payment Services Providers, Wallets and Exchanges as the industry is maturing to a advanced regulated framework. Description of material changes in activities and development of the business: The past accounting period saw several significant changes to Coinify’s business, with the acquisition of Coinify Aps by Marketcom Software Ltd. Following the acquisition, management implemented measures to align the business and cost structure with the evolving market conditions while ensuring continuity in both payment operations and on/off ramp services. During the reporting period, Management has been targeting break-even as the main objective.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Development in activities and financial matters
The financial year 2023 for Coinify concluded with -2.840.000 DKK for the 12 month period; driven largely by the change in strategy from the fact that Voyager entered into Chapter 11 and the 2022 management buy-out. During 2023, Coinify focused on profitability. This was primarily driven by optimizing cost structures as well as driving new business opportunities forward. In 2023 Coinify launched a new product offering, Coinify+. This offering is tailored to HNIs and family offices with an appetite to buy or sell crypto currencies, within the ranges of 50.000 -1 mill EUR. During 2023, Coinify was acquired by Marketcom Software Ltd. A diverse group with international focus on technology.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Events occurring after the end of the financial year
Following the closing of the previous financial year 2023 Coinify has been able to take advantage of the current crypto bull market. On/Off ramp as well as Coinify+ trades significantly increased in Q1 2024 with a record high amount in March 2024, increasing the gross profit further on a Quarter on Quarter basis. The expectations for Q2 remain positive and high with a further increase in Coinify+ volume/revenue numbers as additional headcounts have been added to this team. Overall we expect the positive sentiment for the market to remain throughout the year, and Coinify’s strategy will be to take short term advantage of the bull market in the on/off ramp market whilst driving more deals through in the Payment Services market.