Crypto.com Expands Pay Service, Adds Support for MATIC, USDC, and DAI

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Asad Gilani

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October 23, 2023

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Crypto.com, a leading cryptocurrency exchange, has revealed significant upgrades to its payment services, introducing new features and expanding the range of supported coins.

According to the exchange, this development aims to enhance users’ experience, allowing them to purchase more cryptocurrencies with credit or debit cards.

Notably, Crypto.com integrated a DeFi Wallet into its Crypto.com Pay in January to allow users securely and seamlessly buy crypto with their fiat cards. 

Crypto.com Now Allows Users to Buy More Tokens Using Fiat Cards

The Crypto.com DeFi Wallet is a non-custodial wallet that allows users to access all DeFi services in one place. 

According to the Crypto.com website, the app enables users to manage over 700 tokens across 30+ blockchains. 

Users can swap tokens, earn rewards, manage their NFTs, and connect with dApps with a lightening-speed. 

Initially, the DeFi Wallet only supported Bitcoin (BTC), Ethereum (ETH), and Cronos (CRO). 

But now they have added MATIC, USDC, and DAI with Crypto.com Pay to allow direct payment with credit or debit cards.

In addition, Crypto.com Pay will support more countries in Asia, Europe, Latin America, and Australia as a payment method to buy crypto in the DeFi Wallet app. 

Users in the supported countries can purchase their favorite tokens using their credit card or other existing payment methods.

Using the new features, when users tap “Buy” on the DeFi Wallet’s homepage and select the asset they want to buy, Crypto.com Pay will appear as a new payment method. 

The app will redirect users who chose Crypto.com Pay as a preferred payment option to the Crypto.com Pay page, where they can complete their purchase with fiat cards.

Besides supporting direct fiat purchases of MATIC, USDC, and DAI, the exchange listed new tokens in the DeFi Wallet app. 

According to a tweet, Crypto.com has listed PEPE, LimeWire Token (LMWR), Milady (LADYS), BEAT, and Fulcrum (FUL) in the DeFi Wallet.

Crypto.com Expanding Despite Significant Setbacks

Crypto.com is a Singapore-based cryptocurrency exchange and one of the top-rated crypto trading platforms. 

The company had over 50 million customers and 4,000 employees as of May 2022. 

However, the crypto exchange witnessed several challenges, including January 2022 $15 million Ether hack, significant layoffs, and its native token Cronos (CRO) lost $1 billion in value.

That means making difficult and necessary decisions to ensure continued and sustainable growth for the long term by making targeted reductions of approximately 260 or 5% of our corporate workforce.

— Kris | Crypto.com (@kris) June 11, 2022

Despite the setbacks, Crypto.com has been successful in its operation, securing regulatory approvals in many regions. 

It even acquired two South Korean startups, payment service provider PnLink and virtual asset provider OK-BIT, in August 2022. 

Also, Crypto.com made several high-profile promotional actions. 

These include a naming right deal worth $700 million for Los Angeles’s Staples Centre. 

At press time, its native token CRO is trading at $0.063914, with a 1% 24-hour price increase.

The latest development could boost CRO prices since more people can access it via direct fiat purchase.