The Kiwi based decentralised messenger with built-in wallet attracts over 200,000+ active users in less than a year with over 25% of this growth in India
Bangalore, May 11, 2020: Sylo, a New Zealand based global software development house is set to dominate the decentralised secure communications and asset-wallet space globally with over 200,000+ active users globally in six months of its launch. It has also penetrated the Indian market substantially with more than 25% of this user base coming from India.
According to a report by Statista Research the number of mobile phone messaging app users in India is projected to grow to 230.5 million users in 2020. The high-scale decentralised communication platform, Sylo, aims to take crypto to this vast user base in India that uses instant messaging on their smartphones, thereby expanding the crypto user base in India. India has slowly been more forthcoming to increased adoption of crypto and blockchain technology with its multiple initiatives by the government and corporate bodies.
Inline with its vision, Sylo also announced the listing of their SYLO cryptocurrency token on major global exchange KuCoin. The SYLO token is available for public trading on the KuCoin platform effective immediately. The release of the SYLO token has been a much-awaited next step from the creators of the Sylo Network, Sylo Protocol and next-generation decentralised app, the Sylo Smart Wallet. The successful release of the SYLO token is now just the latest in a string of authenticating milestones for the company.
A key zone of application for the SYLO token is the Sylo Smart Wallet that combines a digital wallet with a decentralised private messenger. It enables users to connect from the safety of a wallet address, send and receive digital assets in chat, make audio and video calls, and store Bitcoin or any ERC-20 compatible token, such as SYLO or Ethereum, in a non-custodial wallet.
“India is a critical market for us and we are very happy to see the rapid adoption globally and specifically across a wide range of interest groups in India already. The rapidly increasing adoption globally along with the SYLO token listing on KuCoin is a testimony to the hard work put in by the team and the need that we have successfully managed to bridge. We are excited about growing in India and look forward to forging more partnerships in the crypto space in India”, Dorian Johannink, Sylo Co-Founder and Business Director said.
Sylo is a communication and storage network without any centralised server infrastructure. Instead, Sylo is decentralised, meaning users create the network by running software on their devices. Proof of the Sylo Network’s power lies in the 200,000 users already using the company’s flagship app, the Sylo Smart Wallet, for decentralised, private communications and digital wallet functionality.
Image Source: Sylo Medium Page