Singapore — Cronos has unveiled an innovative service that allows users to transfer funds directly to a prepaid card with ease. Facilitated through a partnership with Crypto.com, this feature sets a new precedent for combining decentralized finance (DeFi) with traditional financial systems.
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By linking their Cronos EVM or Cronos zkEVM wallet to a Crypto.com prepaid card, users can instantly transfer funds from their crypto wallet to the card. If the selected token isn’t supported, the platform automatically converts it into USDC or ETH, ensuring users have immediate access to their crypto in the real world.
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Ken Timsit, Head of Cronos Labs, shared:
“This feature allows Cronos users to effortlessly off-ramp crypto assets and use them anywhere prepaid cards are accepted. By eliminating the usual delays and steps associated with cashing out, we’re bringing decentralized finance to everyday transactions. Users can now hold their digital assets longer, knowing they can quickly access funds whenever needed.”
Ken Timsit, Head of Cronos Labs
Simplifying Crypto-to-Fiat Conversion with Cronos' New Feature
Traditionally, converting crypto to fiat is a time-consuming process, requiring multiple transfers and waiting for bank transactions. Cronos’ new feature simplifies this by allowing users to easily convert and use crypto funds to top up their Crypto.com prepaid card, bypassing the usual complexities.
Available on both Cronos EVM and Cronos zkEVM — the high-performance Layer 2 network powered by zkSync technology — this feature will be particularly beneficial to Ethereum users, thanks to the direct bridge to Ethereum through Cronos zkEVM. This bridge makes fiat off-ramping smoother, bringing users closer to seamless crypto transactions.
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Eric Anziani, President and COO of Crypto.com, emphasized the significance of the collaboration:
“Crypto.com has always championed the adoption of blockchain solutions that make cryptocurrency more accessible, and this collaboration with Cronos is a testament to that. We’re proud to support Cronos, and launching this feature together underscores our mutual goal of making crypto an integral part of daily life.”
Eric Anziani, President and COO of Crypto.com
Looking ahead, Cronos plans to introduce an automatic transfer system for DeFi yields. This update will enable users to direct staking rewards and other earnings from Cronos directly into the process of topping up their Crypto.com prepaid card, further strengthening the connection between decentralized finance and everyday financial activities.
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About Cronos
Cronos (cronos.org) is a top-tier blockchain ecosystem, home to more than 500 developers and partners with an addressable global user base exceeding 80 million. Cronos is dedicated to simplifying Web3 adoption by focusing on Decentralized Finance and Gaming, offering a range of blockchain solutions, including Cronos (EVM), Cronos POS, and Cronos zkEVM. Since launching in 2021, Cronos has facilitated over 100 million transactions, securing more than $6 billion in user assets. Cronos Labs, a $100M startup accelerator, is dedicated to fostering growth within the Cronos ecosystem.
About Crypto.com
Founded in 2016, Crypto.com serves over 100 million customers globally, leading the industry in regulatory compliance, security, and privacy. Its mission is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to driving cryptocurrency adoption through innovation. Learn more at Crypto.com.
