We’re happy to announce Crypto.com’s CRO Token has listed on CPDAX exchange (23.01.2019). Here is a quick overview and some insight into the Crypto.com project and their CRO Token.
Company Overview
Crypto.com is a payments and cryptocurrency platform aiming to accelerate the world’s transition to cryptocurrency by putting it in every wallet.
They aim to do this by providing a global payment platform that allows customers to shop and spend with their favourite cryptocurrencies online and offline as well.
The company, previously known as Monaco, first launched after a successful ICO in mid-2017 that raised upwards of $26,000,000 USD at the time, with their MCO Token Sale.
During July 2018 the company, capitalizing on their previous success, famously purchased the crypto.com domain name, rebranding from Monaco to their current name; Crypto.com. The new brand name being more in keeping with their drive to accelerate cryptocurrency adoption worldwide.
Since then, Crypto.com have launched their MCO Visa cards in Singapore and are set to expand their card payment services across APAC and North America throughout 2019 under the Crypto.com MCO banner.
Moreover, soon after their successful rebrand, and MCO Visa card launch, late 2018 saw them embarking on the development of their Crypto.com Chain platform and native token (CRO), too.
Project & Token Overview
Token Name: Crypto.com Chain (Ticker Symbol: CRO)
Token Overview & Utility: The Crypto.com Chain platform and native CRO token aim to drive cryptocurrency adoption globally by enabling instant transactions worldwide between merchants and users alike.
As Kris Marszalek, Co-founder and CEO of Crypto.com put it: “The development of the Crypto.com Chain also includes the creation of the Crypto.com Chain Token (CRO) — that will enable cross-asset intermediary currency settlement.”
As well as enabling cross-asset intermediary currency settlement, the CRO token has the following additional utilities:
- All network participants writing transactions on the Crypto. com Chain will have to use CRO Token to settle block transaction fees.
- All participating nodes in the Crypto.com Chain will be rewarded in CRO Token for processing and validating transactions on the network; each node will need to stake a fixed minimum amount of CRO Token (varies by node types) in order to contribute to the network.
- Customers choosing to pay with CRO directly will transact with minimal fees.
Project Development Updates:
Here are two current (as of 28.01.2019) updates regarding the Crypto.com project, company and team that you may find interesting.
- The leadership team first welcomed Tyson Hackwood on board as SVP, Head of Global Merchant Acquisition. In his new role, Tyson, who was formerly of PayPal and Braintree, is expanding the reach and adoption of Crypto.com Pay, the cryptocurrency payment solution powered by Crypto.com Chain. Click here to read more.
- In December, leading hard wallet security firm, Ledger, announced the Memorandum of Understanding (MOU) linking with Crypto.com to adopt Crypto.com Pay on Ledger’s online store. Once implemented, customers will have the option to purchase Ledger products at checkout with their preferred cryptocurrency seamlessly and securely using the Crypto.com Wallet & Card App, whilst collecting cash back rewards funded by the network. Click here to read more.
Token Issuance Related Information:
Here is some information regarding the project’s token and issuance.
ICO Funds Raised: Secondary Distribution Only. No Pre-Sale, Public Sale or ICO.
Distribution:
30% Secondary Distribution (30,000,000,000 CRO)
20% Network Long-Term Incentives (20,000,000,000 CRO),
20% Capital Reserve Token (20,000,000,000 CRO)
20% Ecosystem Grants (20,000,000,000 CRO)
10% Airdrop to MCO Holders and Community Development (10,000,000,000 CRO)
Etherscan Link is here.
Project References:
White Paper [ENG]
Technical White Paper [ENG]/a>
Crypto.com Website
Crypto.com Chain (CRO) Info Page
Twitter: @cryptocom
Medium
CRO Telegram
CRO Telegram (Korean)
CRO Kakao Talk (Korean)
Reddit
CRO Trading Events:
To get more details regarding CRO and related trading events please visit the CPDAX website or click here.
Disclaimer: The above content is not financial advice and does not constitute an endorsement of Crypto.com or any of their service or products. We encourage all of our users to do their own due diligence and research before engaging in trading activity with any and all digital assets listed on CPDAX.
