Crypto.com new milestone marks 5 million total users in less than three months as the new products and interest in crypto like BTC helped the exchange achieve it so let’s read more about it in the latest crypto news.
Crypto.com is a crypto payments platform that reached 5 million users in less than three months which signals a more vital retail interest in the cryptocurrency. According to the market data provider, Glassnode, there’s a growth pattern in the third quarter of the year as the number of new BTC users increased by 21.7 million. Based on this data, and the steady growth of the platform, Crypto.com new milestone happened as the payments company was a direct benefactor of Bitcoin’s popularity. Co-founder and CEO of the platform Kris Marszalek said:
“Crypto.com has been very fortunate to grow from [1 million] users to over [5 million] on the platform in only 12 months. We have an incredibly engaged user base, just as passionate as we are about realizing the vision of cryptocurrency in every wallet.”
According to the announcements, the company still plans to fulfill the roadmap deadlines and to hire new talent as well as the further develop the product and service lien in efforts to achieve the latest goal of gaining 15 million users by the end of 2021. As reported previously, Crypto.com launched a new DeFi exchange that is based on Uniswap and now users can trade cryptocurrencies and stake their holdings.
The service is separate from Crypto.com custodial feature which is a centralized exchange and offers more control for the users, over their funds. Crypto.com launches a DeFi swap service which now allows investors to trade their ETH-based ERC-20 tokens. The app supports eight coins now including Ethereum, Compound, CRO token, DAI, Chainlink, USDC, Tether, and Wrapped ETH. The coins are drawn from a pool funded by various liquidity providers and the prices are then adjusted to provide the “best rate available.
In addition to swapping the coins, the users can stake their tokens via the app’s pool and boost features in order to earn interest on their holdings. The platform offers higher rates for everyone who holds its native CRO token with a 20x bonus for everyone that will stake in the highest tier. The app was forked from Uniswap 2 which is a popular Ethereum-based decentralized exchange. The changes to the app have been audited by Crypto.com and the SlowMist blockchain firm.
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