Established in 2016, Crypto.com envisions empowering global financial control by safeguarding identities and private data, with innovative services seamlessly integrated into the Crypto.com App. In 2021, the company surged with over 100 new features, marking a pivotal year for product development and innovation. CEO Kris Marszalek aspires for Crypto.com to transcend being merely an exchange, aiming to evolve into a comprehensive "ecosystem." This article explores Crypto.com's significant strides in GEN 3.0 Exchange, DeFi Wallet, and the Metal Visa card, highlighting their commitment to advancing the crypto landscape.
Crypto.com's Unified Exchange Platform Enhances Trader Experience Across Markets
Crypto.com pioneers the next wave in trading platforms, catering to diverse trader needs from retail to institutional. This revolutionary exchange seamlessly merges Spot and Derivatives Exchange into a unified engine, simplifying trading with just one wallet across all markets. Boasting ultra-low latency and an upgraded tech stack, it promises improved order matching, execution, positions management, and more. The one exchange and one wallet infrastructure will greatly improve functionality and accessibility of all the Exchange products and elevate the experience to traders, offering multi-collateral support, multi-product trading, smart cross-margin policies, and efficient collateral management.
Crypto.com's Integrated DeFi Wallet with Global Accessibility and Cronos Advancements
In January 2023, Crypto.com unveiled its DeFi Wallet, seamlessly integrated with Crypto.com Pay for secure crypto purchases via credit or debit cards. This wallet provides users with a comprehensive suite of DeFi services, enabling storage, staking, swapping, transfers, and transactions with decentralized apps. A significant improvement is the expanded global support, now accessible in additional countries, allowing users in these regions to conveniently acquire preferred tokens using credit or debit cards. Additionally, the introduction of Cronos (CRC20), a scalable EVM-compatible chain by the Crypto.org team, has substantially reduces transfer fees and processing time for various crypto transactions within the DeFi Wallet. This breakthrough simplifies actions like buying, selling, or transferring crypto, eliminating the need for significant gas fees.
Crypto.com's Innovative Approach with Prepaid Crypto-Linked Debit Cards and Staking Benefits
An increasing number of individuals own digital currency, prompting Crypto.com to offer a solution for real-world spending through prepaid crypto-linked debit cards. Launched in March 2019 and reaching one million users by September, the platform experienced rapid growth, surpassing 5 million users by October 2020. Operating its own cryptocurrency, Cronos, Crypto.com encourages users to lock funds into the card for diverse rewards. The Crypto.com Visa Card supports various cryptocurrencies, mitigating market fluctuations by converting chosen coins to U.S. dollars at real-time values. Unlike traditional cards, users must "stake" funds, temporarily locking assets with Crypto.com. Benefits increase with higher stakes, as users essentially provide a crypto-backed loan, earning a range of perks from the platform.
In a strategic move, Crypto.com announces the establishment of its Global Innovation Lab in Singapore, marking the city-state as its designated global R&D hub. The lab aims to explore frontier technologies, foster collaborations, and experiment with blockchain, Web3, and AI applications. The lab's commitment to contributing to Singapore's FinTech and Web3 ecosystem underscores Crypto.com's dedication to innovation and responsible growth in the digital asset industry.
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