Crypto Success Story: How Hi Gained 3.5M Members without Advertising
“When we started, people thought we were crazy,” says Sean Rach, the co-founder of Hi, the project that aims to build a gamified financial crypto-fiat super app for 1 billion users.
In just over a year since its launch in 2021, Hi has attracted more than 3.5 million members worldwide through referrals alone. The project is on its way to launching its debit card and payment gateway for merchants and is in the process of developing and testing its own Layer-2 sidechain on Ethereum.
Sean Rach, the former CMO of Crypto.com, agreed to tell DailyCoin about Hi’s journey and how the project ended up where it is now.
– What is Hi about? What makes it unique and competitive?
Hi is building the much-needed bridge between fiat and cryptocurrency. What makes us different, is that we’ve looked to address a number of barriers such as “I need to download an app” and then “I need to go through a whole bunch of processes before I can get started.” Our initial starting point was to actually make the service available on chat apps, so WeChat and Telegram.
We do have the app and we’ve tried to make the onboarding process as absolutely simple as possible. What we were really shooting at, was overly complex user experiences. We just got rid of that.
A key difference is we don’t call our customers “customers.” Our customers are our members. And our mindset is very much set on the idea that our products and services should be designed and be of service to our members.
– Tell us about the very beginning of Hi. What was the motivation for starting the project? What’s the backstory?
I had had a career in the financial services world, on the corporate side. I have had the opportunity to become the founding CMO of Crypto.com and am very proud of contributing to the early stages of that company.
But as Covid came on, it was time for me to take a break. It turned out that there were a number of other parties that were at that same point.
And the opportunity came about to gather some like-minded individuals, people with experience both in financial services, fintech, travel tech, etc., and start to figure out how can we bring these things together to form a new company that would have a little bit less of that focus on, let’s say crypto crypto crypto, but more on how do we make something that’s approachable.
We felt that there was a new generation necessary to kind of move things forward, and we were hoping to be that generation.
– When was that “aha” moment when you understood that you were on the right path with Hi?
That happened relatively early. Hi attempts to reduce the barrier to becoming a Hi member by using chat apps.
Please support thecryptocoinreport.com by sharing this post. Also, support us on https://twitter.com/the_crypto_coin and on instagram.com/the_crypto_coin_report/