Cronos and Crypto.com Partner to Bring Decentralized Finance to Everyday Life

This innovation is powered by a partnership with Crypto.com. It marks a major milestone in bridging decentralized and traditional finance.

Cronos, the fast-growing blockchain, has teamed up with Crypto.com to build a new service that lets users transfer crypto directly to a debit card.

This innovation, announced Monday, is a major milestone in bridging decentralized and traditional finance.

“Cronos users can now easily off-ramp their crypto assets and spend them almost instantly wherever prepaid cards are accepted,” said Ken Timsit, Head of Cronos Labs. “By eliminating the usual wait times and multiple steps, we are bringing DeFi closer to everyday life.”

The service is available on both Cronos EVM and Cronos zkEVM. Thanks to Cronos zkEVM’s direct bridge to Ethereum, Ethereum users can also enjoy this service.

It works by linking a Web3 wallet on Cronos to a Crypto.com card. From there, users can top up funds in just one click. If a token isn’t supported, the platform converts it to USDC or ETH.

Typically, converting crypto to fiat involves multiple steps, such as transferring to a centralized exchange and waiting for bank transfers to clear.

This new feature cuts out the hassle. It will allow users to off-ramp crypto directly into their Crypto.com prepaid card, making the process as smooth as butter.

“We are longtime supporters of Cronos, and launching this feature together furthers our shared vision of mainstreaming crypto and enhancing its utility,” said Eric Anziani, President and COO of Crypto.com.

This partnership also marks a significant development in the realm of decentralized finance (DeFi). As Cronos aims to introduce an automatic transfer system for DeFi yields.

This will enable users to route their staking rewards and other earnings directly to their Crypto.com prepaid card. This integration will merge decentralized financial activities seamlessly with daily financial tasks.

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