Cronos, in partnership with Crypto.com, has become the first blockchain to offer direct crypto-to-debit card transfers. Users can now link their Web3 wallets directly to transfer their cryptocurrency holdings to their Crypto.com prepaid cards seamlessly.
This enables instant card funding with cryptocurrencies, making conversion to spendable fiat currency as smooth as traditional banking transactions.
Cronos Eliminates Intermediaries
Crypto users have traditionally needed intermediaries to navigate the complexities of crypto-to-fiat transactions.
This often involves transferring assets to centralized exchanges and enduring lengthy wait times for bank transfers to clear.
However, the integration enables instant card funding using cryptocurrencies on both the Cronos EVM and Cronos zkEVM networks.
With the help of Cronos zkEVM’s direct bridge to Ethereum. Even Ethereum users can take advantage of this groundbreaking service, further expanding its reach and potential impact on the crypto ecosystem.
It also offers technical advantages that make it ideal. These include:
- EVM compatibility through Ethermint
- Scalability
- Interoperability through the Inter Blockchain Communications (IBC) protocol
This feature streamlines everyday crypto transactions by allowing users to off-ramp their crypto directly into their Crypto.com prepaid card.
How the Partnership Evolved
This collaboration follows significant advancements at both Cronos and Crypto.com. With the potential to add more tokens in the future, Crypto.com Pay just launched support for the Cronos network, enabling payments using CRO, ETH, and USDC.
The aim of expanding payment options is to capitalize on the potential market for online merchants looking to take advantage of the estimated 300 million cryptocurrency users globally. By supporting Cronos, Crypto.com Pay is positioning itself as the go-to crypto payment gateway for merchants eager to embrace cryptocurrency payments.
As more people experience the ease and convenience of using crypto for daily transactions, perceptions of digital assets may shift from speculative investments to practical financial tools.
READ MORE: Bitcoin Price Drops 20%, But ‘The Party Is About to Start’
