Top Cryptocurrency Debit Card Issuer, Crypto.com, To Launch A Digital Asset Exchange

The exchange ways are heating up as yet another cryptocurrency firm joins the race to take up Binance’s spot on the top. Crypto.com, a cryptocurrency debit card issuer, announced on Nov. 13 the company will be shifting its business model to fit an exchange platform. The company’s native token saw its price spike by 15% since the announcement.

Crypto.com Introduces Exchange Platform

According to a published post on The Block, the company’s CEO, Kris Marszalek, said the change is in an aim to retain their customers on the platform. Having built their community to over 1 million customers since launch in 2018, the company has a ready market to push through the launch of the exchange. He said,

“We already have over 1 million users on a secure platform and a customer acquisition engine. Adding full exchange functionality addresses the needs of our existing customers and keeps them within our ecosystem.”

The exchange aims to competitively enter the market offering low makers and takers fees at 0.008% and 0.02% respectively. Furthermore, large scale traders with above $100,000 USD will have no fees. The exchange will create pairs from 9 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Eos (EOS), XRP and the company’s native token, CRO.

CRO Token Spikes against the Dollar Since the Announcement

The CRO token spiked by 14% against the dollar in the past 24 hours, as of time of writing, showing signals of testing resistance levels at $0.045 USD. The spike places the coin 25th in terms of market capitalization with a total cap of $466 million USD.

In August, Crypto.com announced a $100 million insurance fund to cover their user’s digital assets in case of theft or lost keys.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,467FansLike
2,795FollowersFollow
4,230FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Protocol to Roll Out Decentralized Oracles Dubbed ‘Open Price Feed'

Compound, one of the most popular defi protocol, is all set to introduce open price feeds for lending on its platform using a decentralized...

$2 Million Slippage & Surge in Ether Price on Uniswap Helps Net $40k in Profit

A Uniswap user was able to profit $40,000 thanks to $2 million of slippage and the price of Ether surging north of 15%. It all...

Irish Govt to Target Cryptocurrencies Use in Money Laundering And Terror Financing

The Irish government aims to implement stricter and more stringent laws to curb money laundering and terrorism financing in its financial system, including digital...

Interactive Brokers to Settle $38 Million in Penalties for Violating AML Procedures

Interactive Brokers LLC, a U.S based brokerage that skyrocketed between 2013 and 2018, has agreed to settle a total of $38 million with the...

Ethereum Gas Price Hasn’t Been This High Since its Launch

The price of Ether is back to making its way to $400 level as it hovers around $391 in the green with just $840...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today