| Schedule of Disaggregate Revenue by Service Type and by Platform |
We disaggregate revenue by service type and by platform as follows:
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
Revenue stream
|
|
2026
|
|
2025
|
|
2026
|
|
2025
|
|
Banking and payments revenues
|
|
$
|
5,293,820 |
|
|
$
|
7,921,556 |
|
|
$
|
10,225,033 |
|
|
$
|
14,843,181 |
|
|
Custody and trading revenues
|
|
|
772,379 |
|
|
|
241,600 |
|
|
|
1,437,573 |
|
|
|
393,455 |
|
|
Other revenues
|
|
|
27,685 |
|
|
|
36,116 |
|
|
|
27,782 |
|
|
|
62,151 |
|
|
Less: Sales returns and allowances
|
|
|
(3,975 |
)
|
|
|
(23,346 |
)
|
|
|
(8,170 |
)
|
|
|
(35,024 |
)
|
|
Revenues, net
|
|
$
|
6,089,909 |
|
|
$
|
8,175,926 |
|
|
$
|
11,682,218 |
|
|
$
|
15,263,763 |
|
|
We disaggregate revenue by service type and by platform as follows:
|
|
|
Year Ended December 31,
|
|
Revenue stream
|
|
2025
|
|
2024
|
|
Banking and payment revenues
|
|
$
|
30,322,364 |
|
|
$
|
23,432,996 |
|
|
Custody and trading revenues
|
|
|
1,462,357 |
|
|
|
170,746 |
|
|
Other revenues
|
|
|
63,663 |
|
|
|
161,000 |
|
|
Less: Sales returns and allowances
|
|
|
(54,711 |
)
|
|
|
(11,594 |
)
|
|
Revenues, net
|
|
$
|
31,793,673 |
|
|
$
|
23,753,148 |
|
|
| Schedule of Deferred Revenue |
The activity in deferred revenue for the six months ended June 30, 2026 and the year ended December 31, 2025, was as follows:
|
|
|
Six Months
Ended
June 30, 2026
|
|
Year Ended
December 31,
2025
|
|
Beginning of the period contract liability
|
|
$
|
366,252 |
|
|
$
|
875,466 |
|
|
Revenue recognized from the contract liabilities included in the beginning balance
|
|
|
(244,332 |
)
|
|
|
(771,669 |
)
|
|
Increases due to cash received net of amounts recognized in revenue during the period
|
|
|
106,228 |
|
|
|
262,455 |
|
|
End of period contract liability
|
|
$
|
228,148 |
|
|
$
|
366,252 |
|
|
The activity in deferred revenue for the year ended December 31, 2025 and the year ended December 31, 2024, was as follows:
|
|
|
Year Ended
December 31,
2025
|
|
Year Ended
December 31,
2024
|
|
Beginning of the period contract liability
|
|
$
|
875,466 |
|
|
$
|
1,012,010 |
|
|
Revenue recognized from the contract liabilities included in the beginning balance
|
|
|
(771,669 |
)
|
|
|
(442,045 |
)
|
|
Increases due to cash received net of amounts recognized in revenue during the period
|
|
|
262,455 |
|
|
|
305,501 |
|
|
End of period contract liability
|
|
$
|
366,252 |
|
|
$
|
875,466 |
|
|