Cronos has launched a new service in partnership with Crypto.com, allowing users to withdraw funds directly to a prepaid card, making crypto cash-outs more convenient and faster.
New Service Launch by Cronos
In collaboration with Crypto.com, Cronos has introduced a unique service that enables users to withdraw funds directly to a Crypto.com prepaid card. Users can link their non-custodial web3 wallets on Cronos EVM or Cronos zkEVM to the card and top up with one click. If a token isn't directly supported, it gets automatically converted into USD Coin (USDC) or Ethereum (ETH).
Benefits and Innovations
With this new feature, Cronos users can off-ramp their crypto assets almost instantly and spend them wherever prepaid cards are accepted. Ken Timsit, Head of Cronos Labs, stated, "In eliminating the wait times and multiple steps usually required when cashing out, Cronos is bringing DeFi closer to everyday life. As a result, users can hold their digital assets for longer in the knowledge that they can easily withdraw funds at any time."
Trends in the Crypto Card Market
Cronos's solution is part of a wider lineup of crypto payment solutions, reflecting the increasing adoption of crypto for everyday transactions. Additionally, The Avalanche Foundation and Rain just launched the Avalanche Card, and Crypto.com expanded its Visa program to Latin America. Alchemy Pay also recently integrated Samsung Pay with its virtual card service.
Cronos's new service significantly simplifies the process of managing and using cryptocurrencies, highlighting the growing trend of crypto card usage for everyday payments.
