Cronos, in collaboration with Crypto.com, announced a new service that will allow users to easily transfer cryptocurrency to prepaid cards.
New Partnership Between Cronos and Crypto.com
Cronos and Crypto.com have introduced a new solution to ease interaction between cryptocurrencies and traditional finance. Users can now link their Web3 wallets on Cronos to a Crypto.com card and top up with just one click. If a token isn't supported, the platform converts it to USDC or ETH. Ken Timsit, Head of Cronos Labs, commented that this innovation brings DeFi closer to everyday life.
Simplifying Crypto to Fiat Transfers
Previously, converting crypto to fiat required several steps, including transferring to a centralized exchange and waiting for bank transfers to clear. With Cronos' new service, users can instantly off-ramp their crypto assets to Crypto.com prepaid cards, enabling them to use crypto directly in everyday purchases, eliminating multiple delays.
Future Plans and DeFi Integration
The new service is available on both Cronos EVM and Cronos zkEVM. Additionally, thanks to the Cronos zkEVM direct bridge to Ethereum, Ethereum users can also benefit from this feature. Looking ahead, Cronos plans to implement an automatic transfer system for DeFi yields directly to Crypto.com prepaid cards, increasing the involvement of decentralized finance in daily financial activities.
The new solution from Cronos and Crypto.com simplifies the use of cryptocurrencies in daily life, integrating DeFi into traditional financial operations. This is a significant step towards greater adoption and utilization of the cryptocurrency ecosystem.
