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A Detailed Analysis of Crypto.com November Updates

Crypto.com, one of the world’s leading payments and digital currency platforms, has released an informative article bragging about its achievements, successfully conducted events, and updates manifested in the month of November 2019.

The complete list of November updates of Crypto.com is given below, have a look:

  1. The highly anticipated launch of Crypto.com Exchange Beta

Crypto.com broke the news about the long-awaited launch of its innovative virtual assets trading exchange platform. The critical step has paved the way for the global firm to achieve its strategic mission of popularizing a widescale adoption of cryptocurrencies in the global parlance. The elite customers of Crypto.com will now be able to indulge in the trading of digital assets on its efficient and secure platform facilitated by its web interface, trading API, and an array of apps. These features will be available for use at a lower cost to cater to the requirements of both individual and corporate users.

  1. Fiat Withdrawal Through Bank Transfer

top-up benefit the users, Crypto.com has unveiled a new unprecedented method for customers who are willing to withdraw currencies. The platform now lends support to 21 fiat currencies. The platform now aids the users to sell their digital currencies to fiat and withdraw fiat to their bank accounts in a user-friendly manner.

  1. Crypto.com Announces Freeze of 60% of CRO Supply

To abide by its policy of being true to its customers in all possible ways, Crypto.com announced the freeze of 60% of the Crypto.com Coin (CRO) supply in the early phase of November. The CRO whitepaper revealed:

  • 20% of the total volume of CRO is to be held as Reserve
  • 20% of the total volume of CRO is kept aside for Network Long-Term Incentives
  • 20% of the total volume of CRO is reserved for Ecosystem Grants

Both Long Term Incentives Wallet and Reserve Wallet will be kept frozen for 3 years, i.e., until November 7, 2022. The CRO Ecosystem Grant Wallet was declared to be frozen until the Mainnet launch.

  1. Credit/Debit Card Top-Up for Singapore MCO Visa Card Now Made Available

The firm launched SGD direct top-up for MCA Visa Cards in Singapore. The cardholders got a fair chance to fund their MCO Visa Card with credit/debit cards in addition to topping up via their Crypto Wallet. The customers can now top-up their MCO Visa Cards for free of cost through their debit cards. A 1% processing fee was decided for top-up using credit cards by the platform.

  1. Crypto Credit- $CRO Included With 50% LTV Ratio

In a major step, Crypto.com broadcasted the news about the addition of Crypto.com Coin (CRO) as collateral for the customers who aspire to take instant loans in Crypto Credit with 50% LTV.

  1. Crypto.com Triggered the Launch of Multi-Collateral Dai

Crypto.com underwent certain changes while lending support to the launch of Multi-Collateral Dai for the Maker DAO project.

  • The existing Single-Collateral Dai (Sai) holdings secured in the Crypto.com App got automatically converted to Multi-Collateral Dai (Dai).
  • A single wallet will support both Sai and Dai deposits from other wallets in the new system.
  1. Crypto.com Teams Up with Xfers

While gracing the Singapore Fintech Festival, Crypto.com spilled the beans about its strategic partnership with Singapore-based payment processing platform, Xfers. The integration allowed customers to indulge in the sale and purchase of crypto in SGD by December 2019.

  1. Crypto.com Upgrades Sponsorship to ACCESS

Crypto.com reiterated its dedication to industry advocacy, engagement, and education by extending and elevating its sponsorship to the Platinum level for the Code of Practice. Code of Practice is a governing module under the Standardisation of Practice in Crypto Entities (SPICE) initiative curated by the Association of Cryptocurrency Enterprises and Start-ups, Singapore (ACCESS).

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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