Crypto.com, the app known for sponsoring LA Crypto.com Arena, formerly known as Staple Center, and for hiring Matt Damon as a testimonial, has recently unveiled its roadmap for developing the product. The goal is ambitious, as Crypto.com is aiming to launch tons of new features to transform the app into a all around digital banking service. The promise is to revolutionize the fintech and blockchain sectors by 2025.
The ambitious plan introduces a lot of innovations, from expanded banking services to advanced trading tools. In this article we’ll dive into the details to understand what’s changing and how it could affect users and the entire ecosystem.
Major Updates for Users
- Increased Cashback and Rewards
The famous privilege system for cards holder is going to be boosted, especially for users who lock CRO. The "Level Up" program will be one of the first features to go live.. This allows users to boost benefits, such as cashback, by increasing the amount of CRO staked and extending the staking period to 12 months. - Trading Stocks, ETFs, and Commodities
The app is evolving into a more comprehensive platform, enabling users to buy other products than crypto, like stocks, ETFs, and commodities. This makes Crypto.com a competitor to platforms like Revolut and other similar fintech. - Launch of a Proprietary Stablecoin
Crypto.com plans to launch its own stablecoin, an initiative that could significantly boost the company’s profits, in addition to native toke CRO, which is flying in the recent bullrun - Multi-Currency Banking Services and webapp
A very important feature of the roadmap is Crypto.com’s transformation into a digital bank. This will include multi-currency accounts, interest on deposits, and banking licenses to operate in full regulatory compliance. In the next future Crypto.com will also launch a webapp: from the users will be able to access the service not only in app but also through a browser (which make sense if you deposit FIAT, buy stocks, ETF, and so on)
Cronos Chain and Tokenomics
In parallel, the Cronos Chain roadmap includes:
- Token Burn: Mechanisms to burn tokens, reducing supply and potentially increasing value.
- Developer Tools: A suite of resources to simplify blockchain development on Cronos.
- Cronos One: A “super agent” designed to make blockchain interactions easier, providing a seamless way to use smart contracts and engage in on-chain activities.
New Features and Services
- Secure Custody: Crypto.com will introduce institutional-grade custody services, similar to those offered by other exchange like Coinbase or Binance.
- AI-Powered Trading Tools: The platform will integrate advanced trading tools powered by artificial intelligence for high efficient analysis and operations.
- Derivatives and Futures: By late 2025, derivatives products like perpetual futures will be available, especially introduced to attract more skilled investors.
What Changes for Users?
The roadmap aims to position Crypto.com as a comprehensive ecosystem for managing savings, investments, digital payments and crypto form the same place, aiming to become a global fintech leader. These new features transform the platform into a blend of a cryptocurrency exchange and an advanced digital bank like Revolut.
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