Founded in 2016 in Hong Kong, Crypto.com (CRO) is seeing a surge in popularity thanks to moves on several fronts and a rise in use of cryptocurrency.
Boasting more than a million users, Crypto.com offers an alternative to traditional financial services, with its proclaimed goal of adding cryptocurrency in “every wallet.” Crypto.com is in effect aiming to be a one-stop shop for the entire life cycle of a cryptocurrency user, from lending, borrowing, investing, earning and spending. While those goals may be a ways off, we’ve seen some strength in several areas.
First, Crypto.com began shipping its MCO Visa cards to Europe, its largest market. Second, the team launched what it dubs “Crypto.com Private,” a package of premium rewards for paid MCO Visa (VISA) cards. Also, in a third big move, the Crypto.com app is now available in India, a nation with a population of over 1.3 billion. Fourth, Crypto.com has joined the USDC ecosystem, or USD Coin, a “stablecoin” set to the U.S. dollar. Through this setup, it’s offering up to 12% annually for holding USDC. And, finally, the CRO/USDT trading pair was added to BittrexGlobal, with rewards of up to $60,000 for trading and staking CRO.
In sum, the project seems to be doing everything it can to bring crypto into everyday use. With Visa-branded credit cards, a mobile app where users can buy, sell, and spend crypto, and a $10 million URL, the project is on the right track to mass adoption.
Indeed, CEO and co-founder Kris Marszalek told CoinDesk that transaction volumes more than doubled between December and February, with app downloads also hitting all-time highs. With the devastating impact of Covid-19 on the global economy, Marszalek believes people are turning to crypto as a safe haven.
Spike Higher for CRO
CRO User Activity has spiked in the past month as interest in crypto reaches an all-time high. Price has dropped 9% in the same time period, but is steadily climbing back up.
Fundamental Data: FCAS has gone up…