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Qoin World – Welcome to 2025 Update

31 January 2025

[The contents of this communication are point-in-time statements. Please note the date of publication]

Welcome to an optimistic 2025 message and update to the community on all things Qoin.

Highlights

  • December 2024 records AU$54m of Qoin, the highest monthly transaction volume in over 2 years;
  • Transaction volume for the 2024 calendar year hits AU$227 million of Qoin.
  • Over 1580 new Qoin App downloads in December
  • Decentralised PayFi identified as one of the major blockchain themes and opportunities for 2025.
  • Crypto friendly acting chairman appointed at the SEC.

Industry overview   

According to media reports the key industry news included:

  • Decentralised Payments Finance, known in the industry as PayFi, has been identified as one of the key growth areas and opportunities in the blockchain industry for 2025.
  • The Securities and Exchange Commission (SEC) announced on 21 January 2025 that President Donald J. Trump has designated Mark T. Uyeda as Acting Chairman of the agency.

Markets

Per CoinMarketCap.com the cryptocurrency market size has reached US$3.5 Trillion at the end of January 2025.

Community Transactions

For the month of December 2024, the community transacted 5.033 million Qoin across 2,004 transactions at a wallet value of approximately AU$54.038 million of Qoin. The average transaction size for the month was Q2,511. Since January 2020 the Qoin community made circa 572k transactions on the Qoin blockchain at a combined wallet value exceeding AU$2.6 Billion. This data excludes incentives and treasury related transactions.

Technology, Governance, and further Decentralisation

As previously reported, the tech team has been researching and testing various public blockchains to replace the current enterprise Qoin blockchain as part of the decentralisation process. The tech team advised they have recommended a preferred Layer 2 solution on the Ethereum network, as the ideal open and public blockchain to meet the needs of the Qoin community in the next decentralised stage.

The Qoin team is optimistic of PayFi as identified as one of the big blockchain industry opportunities for 2025. Central to this opportunity will be modern smart wallets provided by leading global third-party digital wallet software providers. The tech team advised they have recommended two preferred public smart wallets able to connect with the Layer 2 chain and Ethereum network. These public self-custodial smart wallets are built and issued by leading global software firms. It is envisaged that the community will have a choice of digital wallet to substitute the existing Qoin wallet when the migration to the open public blockchain occurs. A particular exciting prospect is that these smart wallets are available in more than 100 countries, giving the potential for the Qoin ecosystem to rapidly expand across the globe.

A comprehensive announcement of next steps in the decentralisation process will soon be made to the community.

Other Updates

As previously announced the Class Action has been settled subject to court approval. The approval hearing has been scheduled for 4 March 2025 and no further information has been received.

ASIC has appealed one of Justice Downes’ decisions made in favour of BPS Financial Pty Ltd in May 2024 regarding licensing of the digital wallet.  This appeal by ASIC has been set to be heard on 14 March 2025.

Closing

We are encouraged to start 2025 off the back of the high transaction volumes and App downloads in December. Welcome to our many new users who joined the ecosystem in the last quarter.

Detailed steps of the further decentralisation will soon be announced, and we look forward to participating more fully in the global crypto ecosystem which may add significant value to merchants and consumers.

Thank you to all loyal Qoin holders for your continued support into 2025.

The Qoin Team