The Crypto.com Chain was created to build a network of cryptocurrency projects, and develop merchants’ ability to accept crypto as a form of payment. Businesses receive all their payments instantly in CRO or stable coins, or in fiat. CRO is now available on DeFi Swap. Users can swap CRO, be CRO Liquidity Providers to earn fees and boost their yield by up to 20x when staking CRO. Businesses can use CRO to enable customers to complete checkout and pay for goods and services with cryptocurrencies.
What is CRO?
CRO (Cryptocurrency Always Available) is a universal and continuously growing token designed to build an open payment network. The value of CRO is based on the value of CROW Token (CROW) on the Crypto.com Chain. CROW provides the CROW CROW Token holders the right to a premium payment channel for all transactions between traders and merchants on the Crypto.com Chain. The CROW community will have access to a bonus transaction channel through the team’s wallet provided through a partnership with DeFi Swaps, allowing users to store and transfer funds. Crypto.com Chain is being built with the express purpose of supporting projects and businesses throughout the crypto-ecosystem. All of the CROW tokens and fees are paid out as rewards to the users of the network.
A Brief History of Crypto.com Chain
(Crypto.com) Crypto.com Chain (CRO) was created in August 2017. It was conceived to provide cryptocurrency ecosystem projects an end-to-end solution: merchants can accept payments, payments can be stored in cryptocurrency wallets or fiat, and users can purchase and trade cryptocurrencies. With its recent acquisition of DeFiSwap, a financial marketplace provider for online and mobile payments, CRO now supports fast and easy cryptocurrency to fiat and fiat to cryptocurrency payments. DeFiSwap and CRO’s suite of services enable businesses to integrate digital currency, such as Bitcoin and Ethereum, into their own point-of-sale systems, order management systems, and payment processing platforms. Crypto.
How Does CRO Work?
In an exclusive interview with TechCrunch, Valery Vavilov, CEO of The Crypto.com Group said, "CRO allows for on-ramping of tokens for building blockchain projects." When a cryptocurrency has a finite supply, it will always decrease in value over time. The same goes for equity, as shares that only have value over a short period of time will begin to depreciate over time. CRO holders can buy up to 1 million CRO at a time. As the number of people in the system decreases and their wealth increases, the value of their CRO will increase. Vavilov added, "If everyone in the world has CRO, the value will go up to 1000 times the original price.
CRO in Action
The crypto boom has also led to cryptocurrency issuers and developers creating endless innovations to enable their coins to serve as a payment method. Major eCommerce platforms, such as the market leader for Web Search, Bing, now allows CRO as a payment option. A leading global payment processor, BitPay, is now integrating CRO to enable sellers to convert bitcoin to CRO instantly. Another major project that has recently integrated CRO is PAYTM, the Indian payment and commerce platform. A partnership with Lykke Labs for use of CRO has also been signed. Cryptocurrency market leader, Bitt, has also recently announced a partnership with the world’s biggest retailer of personal finance, Paypal, to enable CRO payments to be made for payments made via PayPal’s global payments platform.
Conclusion
In the crypto world, one should never underestimate the power of evangelism. Whether you’re working for a large venture-backed cryptocurrency or a small to mid-size cryptocurrency start-up, it’s your job to spread the word. And today is a good day to start.