RenrenBit's net profit in the first quarter experienced a big pump, with deposits exceeding 100 million USDT reaching a new high.

The digital money bank RenrenBit released its financial report for the first quarter of 2020, showing that the platform performed well. As of March 31, the total deposits by users on the platform reached 106 million USDT. The operating income for the first quarter was 1.9742 million USDT, and the net profit reached 1.2973 million USD.

Compared to the full-year performance of last year, RenrenBit has achieved significant growth in just one quarter. In 2019, the platform's revenue was 2.31 million USDT, and the net profit was 610,000 USDT. The net profit for the first quarter of this year has already reached 2.12 times that of last year's full year, demonstrating a strong growth momentum.

In addition, RenrenBit also conducted a buyback and destruction operation of the platform coin RRB on April 10. The detailed records of this operation have been publicly displayed on the official website, reflecting the platform's emphasis on transparency.

This financial report reflects that, against the backdrop of the rapid development of the Digital Money industry, some professional digital currency banks are gaining the trust and financial support of users. With the increase in user deposits and the improvement in profitability, these platforms are expected to play a greater role in the future.