#RocketFuel #Blockchain #Reports #Preliminary #FY2023
840% Growth in E-Commerce Transactions over Q1
San Francisco, CA, Oct. 28, 2022 (GLOBE NEWSWIRE) — RocketFuel Blockchain Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, today announced preliminary financial results for its second fiscal quarter, ended September 30, 2022.
Preliminary Second Quarter Results
The Company is pleased to announce that the number of e-commerce transactions that the Company processed increased 840% in Q2 over Q1. The increase in transactions lead to a significant increase in revenue in Q2 over Q1.
Peter Jensen, Chief Executive Officer of RocketFuel, commented, “We are thrilled with our recent acceleration in transactions and transaction volume, which really picked up steam toward the end of the quarter. It is great to see that our sales strategy to sell indirectly through Payment Service Providers and other partners is producing positive results. During the quarter, more and more partners’ merchants went live and ramped their acceptance of crypto payments using our e-commerce solution. Additionally, we’re excited that early adopters have validated our second product and revenue stream: B2B cross border remittance”
Beginning June 2022, RocketFuel generated greater than $1 million in transaction volume in final tests of its new B2B cross border remittance product with a handful of early adopters. The final version is planned for release later this year, expecting to drive incremental revenue from this new product.
Investor Update Call
RocketFuel will be holding an investor update on Thursday, November 3, 2022, at 8:00 AM Pacific time, to present its latest product status and strategic and growth plans. Investors may join the session at us06web.zoom.us/j/8114210933. A webcast of the presentation will be available on RocketFuel’s website at www.RocketFuelBlockchain.com/investor-relations. The…