Fun

Crypto.com Grows Offerings With New Exchange and Fundraising Platform

News Feed - 2019-11-14 05:11:14

Crypto.com announced the launch of a new exchange Thursday, in an expansion of the Hong Kong-based firm’s list of crypto services.


The exchange opens up to beta testers Nov. 18 and to the wider public in December, according to a press release. The three-year-old company has also unveiled a fundraising platform for crypto startups.


Previously known for issuing custodial wallets and crypto-backed debit cards, the new exchange bolsters CEO and co-founder Kris Marszalek’s vision of creating full services experiences for his one million wallet holders. Marszalek said the launch is tactical – necessary for Crypto.com’s future.


“In the next bull run, the companies that will surely thrive are those that manage to build an entire ecosystem,” he said. “It’s very hard for a company that offers only one type of product to compete with companies with much broader distribution that cover each of the use cases.”


At launch, the exchange will offer three trading pairs, matching CRO – the Crypto.com token – tether (USDT) and bitcoin (BTC) against BTC, ether (ETH), stellar (XLM), XRP, EOS, litecoin (LTC), MCO, CRO and USDT. The company expects to add more assets over time.


It also plans to expand user access points. While the exchange is available via desktop exclusively at launch, Marszalek said mobile users – already accessing Crypto.com’s other services via a consolidated app – will get app access in early 2020.


Also launched Thursday is a blockchain fundraising platform called The Syndicate that gives project builders an avenue to raise capital while keeping equity, Marszalek said. Digital asset issuers provide a certain number of their tokens to Crypto.com for a discounted pre-sale open to holders of the exchange’s native coin, CRO.


“It’s a win win,” Marszalek said. “We pass on all the proceeds from such a token sale back to the project so they have a little bit of capital from this exercise.”


The exchange will add margin trading in 2020 too. Marszalek said other expansions may bring a crypto collateralized “credit card/debit card hybrid” to market as well.


Each works into Marszalek’s wider goal: build a Crypto.com ecosystem so comprehensive, so “sticky,” that new users sign up – and the old ones stay around.


“We think we’ve nailed the customer acquisition piece and the stickiness of the product before we actually launched the exchange,” Marszalek. “This is the absolute key element.”


Kris Marszalek image via Flickr/RISE

News Feed

Libra Shows Central Banks’ Failure on Cross-Border Payments: Riksbank
Facebook’s Libra has been a wake-up call for central bankers. Now one such official – Gabriel Soderberg of Sweden’s Riksbank – says cross-border payments are where policymakers need to play ca
Biggest Movers: MKR up 20% to Start the Week, Whilst AVAX Rebound Continues
Biggest Movers: MKR up 20% to Start the Week, Whilst AVAX Rebound Continues MKR was up by nearly 20% to start the week, as prices continued to move away from recent lows. AVAX was
Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum’s Defi Dominance Loses 14%
Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum"s Defi Dominance Loses 14% The crypto-economy has been sliding in value during the last 48 hours as the current market
XRP Poised For A $9 Breakout? Analyst Highlights Strong Signals
Este artículo también está disponible en español. Although the cryptocurrency sector is notoriously unstable, several analysts see hopeful signs for XRP. The Great Mattsb
WIF Bulls Charge Toward $2.89 As Key Resistance Test Looms
Este artículo también está disponible en español. Recent trading activity reveals that WIF is gaining bullish momentum, with its price surging toward the critical $2.89 r
Crypto exchanges subject to EU Travel Rule in 6 months
Arijit Sarkar45 minutes agoCrypto exchanges subject to EU Travel Rule in 6 monthsNew EU regulations mandate crypto exchanges to comply with Travel Rule Guidelines, enhancing AML/CFT measures starting Dec. 30.1174 Total v
BTC price nears $67K as new GBTC Bitcoin outflows pass $550M
William Suberg8 hours agoBTC price nears $67K as new GBTC Bitcoin outflows pass $550MBitcoin price advances like a steamroller toward all-time highs despite a fresh rebound in GBTC outflows.8697 Total views53 Total share
India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection
India"s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection India’s central bank, the Reserve Bank of India (RBI), has warned abo
Hierarchies of Money: Why You Use Bank Money But the Bank Wants Reserve Currency
Hierarchies of Money: Why You Use Bank Money But the Bank Wants Reserve Currency While people tend to think of money as being all the same, the fact is governments and banks use
‘Visibly shaken’ founder watches memecoin plummet 90% during live Spaces pitch
Tristan GreeneJun 22, 2024‘Visibly shaken’ founder watches memecoin plummet 90% during live Spaces pitchThe CEO of Bubblemaps joined the Space to watch and was treated to an “absolutely savage” show.7053 Total vi
Shark Tank Star Kevin O’Leary Defends Support of Crypto Exchange FTX and Sam Bankman-Fried
Shark Tank Star Kevin O"Leary Defends Support of Crypto Exchange FTX and Sam Bankman-Fried Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has defended his support of the c
75% of all Bitcoin has been hodled for over 6 months
Martin Young5 hours ago75% of all Bitcoin has been hodled for over 6 monthsDespite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn’t been sold or moved for the last six months.