Crypto.com Launches Flagship Products as Bank Account Replacement
Crypto.com, the pioneering crypto payments platform launches two flagship products: Crypto Credit and Crypto Earn.
Crypto Earn offers customers the ability to grow their crypto assets, with returns of up to 8% p.a. Users deposit digital assets into Crypto Earn within the Crypto.com app, and begin to collect interest on a daily basis. Interest can be paid in BTC, PAX or TUSD. Fixed-term options of 1 month and 3 months are currently available, with a flexible term to be launched soon.
Meanwhile, the new Crypto Credit product enables users to secure loans instantly, using crypto (initially BTC) as collateral. Unlike banks and other lenders, there is no fixed repayment schedule, no monthly fees or penalty fees for late payments and no deadlines for payment. Customers have complete flexibility and freedom to repay any proportion of the loan at any time, over the 12 months of the loan period. Additionally, no credit checks are needed to obtain a loan.
Users who have staked MCO tokens within the App are eligible for a preferential rate of 8% APR. Funds received can be spent via the MCO Visa Card (with cashback of up to 5%), or used within the App to purchase more crypto – essentially offering a form of leverage.
‘Most attractive rates’ on the market
Kris Marszalek, Crypto.com Co-Founder and CEO, commented: ‘MCO Visa Card, Crypto Earn, and Crypto Credit together form a powerful product suite that nobody else in the industry has today. Crypto Earn offers the most attractive interest rates in the market today. With the MCO Visa Card and Crypto Credit, we are uniquely positioned to do it while maintaining sustainable unit economics. We’ve never been more excited about the potential of our platform and look forward to continue scaling it globally later this year.’
You can find out more about Crypto Credit and Crypto Earn at www.crypto.com.
Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include the Crypto.com Wallet & Card App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com
Eligibility: Crypto.com Wallet & Card App approved users, except for citizens and residents of Hong Kong SAR, Singapore, Switzerland, Malta, or the United States of America. Crypto.com will be extending market coverage over time.