Cryptocurrency payments are slowly gaining ground, and offering their share of benefits for businesses. The proof is in the rapid development of one of the players in the sector: Request Network (REQ). More than 1,000 companies, including The Sandbox, Aave and ParaSwap, are now using its suite of financial tools, Request Finance.
Request Finance is attracting more and more companies in the sector
One of the key metrics to consider in proving that cryptocurrency adoption has been exploding over the past few years is undoubtedly its use as a payment method.
Indeed, more and more companies in the crypto-sphere are moving away from traditional currencies, and paying their employees in crypto-assets. Many of these companies are using the solutions developed by the Request Network protocol.
Offering a wide range of tools related to cryptocurrency payments, Request Network has just taken an important step. Its Request Finance platform, which helps businesses manage their financial transactions in a compliant and simple way, has just passed the 1,000 user mark.
Time for another monthly update on the usage metrics for https://t.co/e7nWaG7QNB
1/ $161m in cumulative crypto payments made in November for invoices, salaries, expenses, and token prize disbursement pic.twitter.com/i2YbDeenCV– Request Finance (@RequestFinance) December 8, 2021
Particularly appreciated by freelancers, Request Finance also counts among its users industry behemoths such as The Sandbox, Aave, MakerDAO, ParaSwap, Gnosis, The Graph, Multis and Arianee, among others.
The list goes on and on, and Request Finance has become one of the industry’s leading providers of payment management tools in just a few months.
At the same time, the range of payment options supported by Request Finance continues to grow with each passing month. Freelancers, SMEs and other entities can already send and receive payments in over 40 crypto-currencies and stablecoins, over 9 fiat currencies and over 10 blockchains.
To date, nearly $160 million in cryptocurrency invoices have already been processed through Request Finance.
Reaching 1,000 [corporate customers] is proof that we are building something people want. We are proud to be working with major players in the Web 3.0 and metaverse industry, and we aim to reach 50,000 Web 3.0 entrepreneurs and creators within two years,” said Christophe Lassuyt, co-founder of Request.
In addition, to reward its first 1,000 users, Request will distribute REQ tokens. The amount of REQ tokens allocated will be based on the volume of payments made via Request Finance.
What are the users’ favourite cryptocurrencies?
In a report detailing its latest metrics, Request Finance provides an interesting insight: which crypto-assets are most used with its platform?
While it’s no real surprise, US dollar-backed stablecoins lead by a wide margin, with USDC accounting for 24.5% of total invoices paid, followed by DAI with 22.4%.
More surprisingly, it is The Sandbox’s SAND token that comes in 3rd place, accounting for 14.7% of bills paid via Request Finance. This is simply because The Sandbox uses Request Finance to manage payments from its creative community, paid in SAND tokens.
USDT, OCEAN, The Graph’s GRT, AAVE, Request’s REQ, and Ether (ETH) of course also feature in the list of most popular crypto-currencies.
Most used crypto-currencies with Request Finance
For businesses with cryptocurrency-related activities, it is becoming essential to arm themselves with a range of professional tools to make their payments securely and in a way that suits their needs.
Request Finance plays a crucial role for these companies, and makes everything related to payments much easier. Not least, the tools developed by Request are resilient to downturns, in the sense that its solutions are little affected by general market sentiment.
Furthermore, as the Request Network ecosystem is open to external contributions, any user is free to create their own extensions, and to propose tools that will connect to Request’s solutions. A feature that will certainly help the protocol to attract even more new users
