The crypto retail platform, Crypto.com, announced that it would be funding $200M to rising startups in the crypto space. The platform unveiled that the decision is part of its plans to encourage a seamless transition into the crypto world. Crypto.com has provided an exchange and wallet, plus crypto cards and loan products. Presently, the firm is extending its boundaries. The firm will utilize the $200 million funds to invest in seed rounds for encouraging startups, with single investments intended to reach between $100,000 and $3 million. Investments in Series A funding rounds will aggregate between $3 million to $10 million.
Established in 2016, Crypto.com witnessed prominent extension in the last few years between growing adoption and institutional interest in digital assets. The company strives to promote emerging startups and crypto founders with the latest fund. Moreover, the platform facilitates up to 20% discount to users who purchase the blockchain’s native coin. Stakers on the platform can gain up to 14% as returns. Additionally, Crypto.com has offered its users a Visa card that promotes both fiat and crypto.
Crypto.com surpasses 10 Million users
Crypto.com has gained extensive traction in the last year. It has expanded its user base globally, also gaining a contract to sponsor Aston Martin’s Formula One team. Additionally, Crypto.com confirmed that it had inked a multi-year deal with the luxury car brand, reverting to Grand Prix racing this year. According to Crypto.com’s press release, the partnership will also incorporate exclusive experiences and opportunities to traders and F1 fans.
Crypto.com has set a stronghold in the cryptocurrency industry in recent months. In February, it declared that it had hit 10 million users. The company now engages 900 people and is concentrating on introducing its chain, the Crypto.org chain. Crypto.com is the first crypto company to sponsor a Formula One team. The firm also profited from exposure at the event; in 2020, the Grand Prix averaged 87.4 million viewers.
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