Conotoxia's FX Turnover for Jumps 5% YoY to 8.29 Bn USD in 2022

Conotoxia Holding has achieved a strong performance during the full year of 2022. The group owns the currency exchange business Cinkciarz.pl Sp. z o.o., Conotoxia Sp. z o.o., which offers money transfers and payment services, Conotoxia Ltd., the Forex and CFD trading business registered in Cyprus, and Conotoxia, Inc., which is registered in the US.

Turnover from the currency exchange segment stood at 8.29 billion USD, up 5% over 2022. Regarding the money transfer service, the revenue increased 24% on a yearly basis, with number of transactions soaring 60% and the value jumping over 40%.

Yearly revenue from the multi-currency cards segment rose by 4.5 times. The number of card transactions surged 4-fold, with their value increasing over 3 times. The turnover generated by the lending service went up by approximately 2 times, with the number of granted loans up 80%.

Conotoxia Ltd. saw revenue during 2022 grow over 2-fold, with 15% higher in turnover and 40% rise in transactions.

"It is essential for us to consistently expand in all areas of our business. Conotoxia’s offer makes it possible to manage everyday finances in various currencies conveniently, quickly and universally,” said Marcin Pioro, CEO of Conotoxia Holding. “Our group is working hard on other projects, both at home and abroad. We are planning further international expansion and expect to see significant growth in revenue and turnover in all segments. We want to reaffirm the position of the leader in multi-currency services in Poland also globally."

Late March, Fazzaco reported that Conotoxia, the licensed retail FX and CFD trading company and part of Poland-based fintech, Cinkciarz.pl, has scaled up its FX and CFD offering with the introduction of new investment advisory services​. The new offering is available to retail traders from Europe, and is mainly targeted at the European Economic Area, reportedly.