Crypto.com
Crypto.com is a pioneering payments and cryptocurrency company with a mission to accelerate the world’s transition to cryptocurrency. Crypto.com is working towards this goal with its portfolio of consumer products, including the Crypto.com Wallet & Card App, the MCO Visa Card, Crypto Invest, Crypto.com Chain, as well as Crypto Credit. The Crypto.com Wallet allows users to buy, sell, and pay with cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Binance Coin (BNB) and Crypto.com’s MCO and CRO Tokens.
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Crypto.com Company Review
The company was founded as Monaco Technologies GmbH in June 2016 with Kris Marszalek as CEO.[1] The company announced its rebrand to Crypto.com on July 6, 2018. On October 22, Crypto.com began shipping its MCO Visa Card in Singapore and subsequently on November 16, announced its plan to rollout the MCO Visa Card program in the United States in partnership with Metropolitan Commercial Bank.
The Team:
Crypto.com was founded by:
- Kris Marszalek, Chief Executive Officer
- Rafael Melo, Chief Financial Officer
- Gary Or, Chief Technology Officer
- Bobby Bao, Head of Corporate Development
Key Staff: Following the launch of its Crypto.com Pay solution, powered by the Crypto.com Chain in November 2018, on 11 December, 2018, the company announced the appointment of Tyson Hackwood, former Director of Asia Pacific for Braintree, an e-commerce payment division of PayPal as SVP, Head of Global Merchant Acquisition. In December 2017, Crypto.com announced key hires including Erald Ghoos, Sean Rach, and Weiyi Zhang. In 2018, the company brought on Jason Lau as Chief Information Security Officer, and Eric Anziani as Chief Strategy Officer, Cerulean Hu as Lead Blockchain Engineer, and Ivan Stefanov as Senior Vice President of Risk Management.
Staff Profile: On January 11, 2018, Crypto.com Co-Founder and CEO Kris Marszalek was ranked #74 in CryptoWeekly’s “100 Most Influential People in Crypto” list. On March 27, 2018, Forbes selected co-founder and managing director Bobby Bao as a member of Forbes Asia 30 Under 30 List in the Finance & Venture Capital category.
Advisory Board: On October 26, 2018, Crypto.com announced its advisory board, led by Antoine Blondeau, Founder and Managing Partner at Alpha Intelligence Capital. The board also include Rob Bier, Founder and Managing Partner at Trellis; Chien-Liang Chou, VP Engineering at Flexport; Chris Corrado, Group Chief Operating Officer and Group Chief Information Officer at London Stock Exchange Group; Huey Lin, Chief Operating Officer at Affirm; Dimitri Tsamados, Partner at Eric Salmon & Partners.
MCO Token
The MCO Token Sale was conducted from May 18 to June 18, 2017 and raised over US$26.7 million. The MCO Token is traded on (21) of the largest global cryptocurrency exchanges. The MCO Token price is available online on the following widget.
On August 23, 2017, Crypto.com partnered with Binance to list the MCO Token on the Binance exchange, the first time the MCO Token was available for exchange. The MCO Token is now available on 21 cryptocurrency exchanges.
By December 2017, the MCO Token traded US$1B in volume – ranking #35 globally by monthly trading volume.
MCO Visa Card
The MCO Visa Card is live in Singapore as of October 2018.
Card Range: On August 31, 2017, Crypto.com unveiled five card options. The full portfolio includes Midnight Blue (classic plastic card), Ruby Steel, Rose Gold, Space Gray (Visa Platinum metal cards) and Obsidian Black (Limited Edition Visa Platinum metal card). On July 6, 2018, the portfolio was updated to remove the Rose Gold and Space Gray cards and add Jade Green, Icy White and Royal Indigo as Visa Platinum metal cards.
Visa Program Manager: Crypto.com announced on October 31, 2018 that they had received approval to begin issuing Visa cards to Singapore residents, allowing card holders to use the cards as payment at merchants accepting Visa.
Airport Lounge Access: Crypto.com has partnered with Collinson Group for the provision of LoungeKey™ to add airport lounge access for MCO Visa Obsidian Black, Icy White, Jade Green and Indigo Blue cardholders.
No Annual/ATM Fees: Crypto.com cards are free: card holders are not required to pay any monthly, annual or shipping fees. No ATM fees (subject to tiered usage limits).
More Travel Rewards: The MCO Visa Card allows eligible card holders to earn up to 5 percent crypto (MCO Token) cashback on all transactions, 100% purchase rebate on standard subscription plans for Spotify, Netflix, and 10% back on Expedia, and Airbnb.
Tap and Pay: Unlike many metal cards, users will be able to use the near-field communication (NFC) tap-and-pay functionalities for payments with their MCO Visa cards.
MCO Purchase and Hold (6 Month): The MCO Visa Cards are only available to MCO Token holders. The Ruby Steel card is available with a 6-month deposit of 50 MCO, while the Royal Indigo and Jade Green cards are available for a 6-month deposit of 500 MCO. Icy White cards are available with a 5,000 MCO 6-month deposit, and Obsidian Black cards are available to reserve for those depositing 50,000 MCO for 6-months.
Private: Crypto.com’s concierge service, Private, caters to the MCO Visa Platinum Obsidian Black and Icy White cardholders. Its services are tailored to the needs and interests of high-net-worth clients in the crypto space.
Platinum Referral Rewards: To participate in the program, each user starts by reserving a MCO Visa Card which requires the staking of MCO Tokens based on the card reserved. Each user can then invite friends to the Crypto.com App and gift them MCO Tokens with special referral links. Users are able to gift up to 10,000 USD to up to 100 friends, the equivalent of 100 USD per referral.
Wallet
Crypto.com’s mobile app was introduced on August 31, 2017 for card reservation for both Android and iOS users to download via Google Play Store and Apple Store. The current Wallet App began closed beta testing on March 12, 2018 and launched May 16, 2018. Through Crypto.com’s Wallet & Card app, users can purchase bitcoin, ether, Litecoin, Ripple, Binance Coin, MCO tokens, and USDM to hold as investments or use as forms of payment. The app also accompanies the MCO Visa Card to track and manage transactions.
On October 4, 2018, Crypto.com introduced EUR bank transfers from accounts in the Single Euro Payments Area (SEPA).
On February 21, 2019, Crypto.com launched its Vortex Trading Engine which pools liquidity from major exchanges globally and routes orders to them to ensure the best execution price with no fees and no markups.
Crypto Invest
On October 11, 2018, Crypto.com launched Crypto Invest after announcing the feature on CNBC Asia’s Squawk Box in January 2018.
Over a year in the making, Crypto Invest is a set of trading strategies designed to perform in any market. Users can start building their portfolio from as little as USD 20. Users may exit at any time without penalty, and Crypto.com does not charge any management, entry or exit fees.
Due to regulatory requirements, Crypto Invest is not currently available in the United States of America, Hong Kong, and Singapore.
MCO Token Utility: Allows customers to receive a 50 percent discount on all Crypto Invest fees when they stake MCO Tokens. Each portfolio mayhold a portion of MCO Token.
Crypto.com Chain
On November 20, 2018, Crypto.com announced the launch of Crypto.com Chain, a high performing native blockchain solution to enable merchants and users to complete transactions in crypto. Crypto.com Chain has its own token, CRO. Crypto.com’s Chain underlies the Crypto.com Pay solution, a decentralized cryptocurrency payment solution built on blockchain.
On December 19, 2018, Crypto.com announced that it has signed a Memorandum of Understanding (MOU) to have Ledger, a crypto security and infrastructure solutions provider, as the first merchant to implement Crypto.com Pay on its online store.
On January 25, 2019, Crypto.com announced that it has signed a Memorandum of Understanding (MOU) with a second merchant to implement Crypto.com Pay, YSNEAKERS, a sneaker e-marketplace for MTO sneakers.
CRO Token
The CRO Token began trading on November 21, 2018 on Digifinex Exchange, the world’s 4th largest exchange by trading volume followed by GOPAX on December 19, 2018. On November 20, 2018, the company announced monthly CRO TokenAirdrops to MCO Token holders to be conducted over a period of 5 years, starting December 7, 2018.
The CRO token price is available online on the following widget.
Crypto Credit
Crypto.com’s Credit product is currently in development. It allows users instant access to cash without the need to sell their cryptocurrency holdings. Credit will be a lending platform that allows users to leverage their blockchain assets to secure credit.
Through the Crypto.com App, users can obtain credit using their cryptocurrency holdings as collateral. This credit can then subsequently be spent with MCO Visa Cards. It can also be used to purchase other cryptocurrencies in Wallet.