Crypto.com’s CRO Token on CoinDCX will be traded on in two pairs
CoinDCX, India’s largest and safest cryptocurrency exchange and liquidity aggregator, announced that crypto payments pioneer Crypto.com will be listing its cryptocurrency CRO token on the CoinDCX exchange. It will be traded in two pairs CRO/BTC and CRO/INR. It means, Indian traders trading on the exchange can buy or sell CRO token in exchange of BTC (Bitcoin) or Indian Rupee. Following the successful listing of the MCO token on CoinDCX earlier this month, the CRO listing marks Hong Kong-based Crypto.com’s official entrance into the Indian market. With the integration of MCO and CRO onto the CoinDCX exchange, CoinDCX bolsters its crypto-based financial services offering, fulfilling its vision of building a trustless, borderless, and all-inclusive crypto ecosystem.
Speaking on the listing, Sumit Gupta, CEO & Co-founder of CoinDCX said: “At a time when we are witnessing unprecedented growth in the use of cryptocurrencies in India, there is a need to provide users with an extensive range of crypto-based financial services that can ensure the faster, simpler, and uninterrupted flow of capital. We are thrilled that CRO is entering India, through our platform, which will help nearly 1.3 billion people in crypto trade CRO through INR. This is also an amazing opportunity for us to encourage more people to enter the crypto market through our ongoing #TryCrypto initiative.”
While the MCO token features key payment and finance utilities within the Crypto.com ecosystem, the CRO token is primarily used for settlements on the Crypto.com Chain, enabling transactions worldwide between merchants and cryptocurrency users in a seamless, secure and cost-efficient way.
“By using CRO as an intermediary currency on the Crypto.com Chain, participants — customers, merchants, crypto customer acquirers, and merchant acquirers — can convert their cryptocurrencies to their fiat counterparts at a much-reduced cost,” said Neeraj Khandelwal, Co-founder of CoinDCX. “The combination of MCO and CRO creates a full-service, global system that encourages the adoption of cryptocurrencies that is inspired by real-life use cases.”
In 2019, the CRO token and the Crypto.com Chain project have made headlines based on the token’s dramatic price increases which propelled it to the top 50 position on the CoinMarketCap’s ranking.
The listing of MCO and CRO on CoinDCX follows the successful closing of CoinDCX’s $3 million Series A funding round by Polychain Capital, Bain Capital Ventures, as well as HDR Group, Operator of BitMEX. Following the lifting of an industry-wide banking ban by the Reserve Bank of India in February, the crypto exchange witnessed a 10x growth in sign-ups in one week. It also launched its long-term campaign entitled #TryCrypto, pledging a sum of $1.3 million USD to bring about crypto mainstream adoption and the total number of crypto users in India to 50 million.
About CoinDCX
CoinDCX is India’s largest and safest cryptocurrency exchange. Built with user experience and security in mind, CoinDCX provides instant fiat to crypto conversions with zero fees, so that users can have access to a diverse suite of financial products and services that are backed by industry-leading security processes and insurance protection.
CoinDCX aims to be the global gateway to cryptocurrencies. Its proprietary liquidity aggregation model provides its users with access to liquidity from leading global crypto exchanges. Recognised and awarded for its contribution to the Indian emerging tech space, CoinDCX is backed by investors such as Polychain Capital, Bain Capital Ventures, and HDR Group, operator of BitMEX. CoinDCX offers users an integrated suite of products, including DCXinsta, providing fiat onboarding from Indian Rupees (INR) to crypto, DCXlend, a decentralised lending service, and DCXmargin, with up to 6x leverage trades across more than 250 markets, and DCXfutures, with up to 20x leverage trades on leading digital assets futures.
For more information, visit https://coindcx.com/
About Crypto.com
Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of “cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 250+ strong team.
Find out more by visiting https://crypto.com.
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