Cronos, a leading blockchain ecosystem, unleashes its groundbreaking feature. This service allows users to utilize their personal prepaid card to withdraw their crypto funds. Cronos, by collaborating with Crypto.com, launches this remarkable feature to link traditional finance with DeFi. The users can now merge their non-custodial wallets with Cronos EVM or Cronos zkEVM by leveraging a Crypto.com prepaid card. By doing this, the participants can top up their crypto asset cards within a click.
In this automated system, the unsupported tokens are directly converted into USDC or ETH, allowing instant access to payments. This advancement simply removes the waiting period including complexity which often are linked with crypto-to-fiat conversions.
Cronos and Crypto.com Partnership as a Significant Milestone in Simplifying Crypto
Cronos’ alliance with Crypto.com underscores their shared vision to streamline user experience by enhancing blockchain adoption. The President and COO of Crypto.com, Eric Anziani, highlights the significance of this partnership. He states, “We have been a longstanding supporter of Cronos and to launch this feature together is a testament to our shared vision of bridging further mainstreaming crypto and enhancing its daily utility.” The crypto utility improves convenience while introducing DeFi to the financial activities of everyday life.
Head of Cronos Labs, Ken Timsit, emphasizes the importance of this new feature, stating, “With this new feature, Cronos users can off-ramp their crypto assets almost instantly and spend them wherever prepaid cards are accepted.” He further states that “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.” This advanced feature allows the transfer of funds to centralized exchanges without the need for a multi-step long process and bank transfers waiting.
Cronos’ Ongoing Innovations and Expansions
Cronos EVM and Cronos zkEVM, both possess the prepaid card service. zkEVM is a high-speed network on Layer 2 backed by zkSync technology. This advanced feature will also benefit Ethereum users as Ethereum is directly linked with Cronos zkEVM.
Cronos aims to pave the way to enable an automated transfer system for DeFi yields. It further allows participants to utilize their prepaid card to-ups to direct their staking rewards. Cronos, through its latest advancement, strives to take a remarkable move, introducing DeFi as a practical asset in daily life. The platform further provides a greater control to its users along with flexible usage of their digital assets.
