KEY TAKEAWAYS
- Cronos introduces a groundbreaking service allowing users to withdraw funds to a personal prepaid card, enhancing the bridge between decentralized and traditional finance.
- Through a partnership with Crypto.com, users can seamlessly convert crypto assets to fiat, reducing complexity and wait times associated with traditional off-ramping methods.
- The new feature supports both Cronos EVM and Cronos zkEVM, offering Ethereum users a direct bridge for fiat off-ramping to the Crypto.com prepaid card.
- Cronos plans future updates to automate DeFi yield transfers, further integrating decentralized finance into everyday financial activities.
Leading blockchain ecosystem Cronos has unveiled a new service that allows users to withdraw funds seamlessly to a personal prepaid card. This feature, facilitated through a partnership with Crypto.com, marks an industry first and represents a significant step in bridging decentralized and traditional finance.
By connecting their web3 non-custodial wallet on Cronos EVM or Cronos zkEVM to a Crypto.com prepaid card, users can top up from Cronos EVM or Cronos zkEVM to the Crypto.com Crypto wallet, and then to the Crypto.com prepaid card with a single click. If a token is not directly supported, the platform automatically swaps it into USDC or ETH, providing near-instant access to spend crypto assets in the real world.
Ken Timsit, Head of Cronos Labs, stated, “With this new feature, Cronos users can off-ramp their crypto assets almost instantly and spend them wherever prepaid cards are accepted.” He emphasized that this development eliminates the usual wait times and multiple steps required when cashing out, thus bringing decentralized finance (DeFi) closer to everyday life.
Enhancing Crypto Utility and Adoption
Eric Anziani, President and COO of Crypto.com, highlighted the collaboration’s significance, noting that it underscores Crypto.com’s commitment to driving the mass adoption of blockchain services by integrating innovative solutions that simplify user experiences. He described the launch as a testament to the shared vision of both companies to further mainstream crypto and enhance its daily utility.
Converting crypto to fiat traditionally involves multiple steps, such as transferring funds to a centralized exchange and waiting for bank transfers to clear. Cronos’ new feature eliminates these pain points by allowing users to seamlessly off-ramp their crypto to top up a Crypto.com prepaid card, reducing complexity and wait times.
Future Developments and Integration
The feature will be available on both the Cronos EVM and Cronos zkEVM, a high-performance Layer 2 network powered by zkSync technology. Ethereum users stand to benefit from its introduction, thanks to the Cronos zkEVM’s direct bridge to Ethereum, enabling seamless fiat off-ramping to the Crypto.com prepaid card.
Following the feature’s launch in February 2025, Cronos plans to explore an automatic transfer system for DeFi yields. This update aims to allow users to directly route their staking rewards and other earnings on Cronos to top up their Crypto.com prepaid card, further integrating decentralized finance into daily financial activities.
For more information, the announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Cronos, in partnership with Crypto.com, has launched a new service that allows users to withdraw cryptocurrency seamlessly to a prepaid card, enhancing the integration between decentralized and traditional finance.
Recent industry reports indicate that crypto-to-card conversion is a growing trend, with cryptocurrency debit cards enabling users to spend crypto in real-world transactions by converting it to fiat currency. This aligns with Cronos’ new service, which simplifies the process of using crypto assets for everyday expenses.
A Finextra report highlights blockchain’s role in reshaping traditional finance by enhancing efficiency and reducing transaction times. This supports the impact of Cronos and Crypto.com’s service, which aims to streamline crypto-fiat conversions and make decentralized finance more accessible to everyday users.
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