Cronos unveils prepaid crypto card service
Cronos just launched a prepaid crypto card service, allowing users to withdraw funds directly to Crypto.com card in one click and then use them for everyday transactions.
Through a partnership with Crypto.com, Cronos has launched a new service that enables users to withdraw their funds directly to a Crypto.com prepaid card, marking the first time such a feature is available in the industry. Users can link their web3 non-custodial wallet on Cronos EVM or Cronos zkEVM to a Crypto.com prepaid card, allowing them to top up from Cronos EVM or Cronos zkEVM to the Crypto.com Crypto wallet and then to the Crypto.com prepaid card with just one click. If a token isn’t directly supported, the platform automatically converts it into USD Coin (USDC) or Ethereum (ETH).
“With this new feature, Cronos users can off-ramp their crypto assets almost instantly and spend them wherever prepaid cards are accepted,” said Ken Timsit, Head of Cronos Labs. “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.”
Cronos’s prepaid card solution is the latest addition to a growing lineup of crypto payment solutions, reflecting growing adoption of crypto for everyday transactions. Just yesterday, The Avalanche Foundation, in partnership with Rain, launched the Avalanche Card, which allows users to spend crypto at any merchant that accepts.
Last Nov, Crypto.com also expanded its Visa payment card program to Latin America, offering 8% cashback, service rebates, and airport lounge access. Additionally, Alchemy Pay recently integrated Samsung Pay with its Virtual Card service, enabling users to make fast and secure payments with crypto.
