Crypto.com announced via a Tweet and blog post that it has integrated Crypto.com Pay with their DeFi Swap, which will allow a number of DeFi tokens to be used on the Crypto.com Pay platform.
Crypto.com Pay is one of the easiest ways for merchants to enter the crypto payments ecosystem, and Crypto.com just made it easier to make payments in a wider range of tokens.
With a global footprint, Crypto.com Pay is a leading payments provider for crypto holders, and also merchants that want to tap into the crypto markets.
Some of the tokens that will be available for payments are CRO, ETH, WBTC, LINK, and UNI. In addition, if a client uses CRO to make payments, they will receive a 10% discount.
Crypto.com expects this tie-up to enhance Swap-Fee Sharing for DeFi Swap Liquidity Providers for every Pay transaction. With the growth of the Crypto.com ecosystem, more clients and merchants can use cryptos for everyday purchases.
Crypto.com Brings Utility to Tokens
The days when tokens were difficult to use a means of payment are long gone – and Crypto.com has been an influential part of the solution.
Crypto.com Pay clients can now use ETH, LINK, UNI, WBTC, UMA, SWRV, REN, NEST, HBTC, renBTC, CRV, YFI, TRU, FARM, COMP, and AAVE, to pay for anything they like with Crypto.com pay in addition to CRO.
With DeFi gaining traction as not only an investment, but a way to access liquidity, this move may further legitimize DeFi tokens as an asset class that can create returns, and be used for payments in the real world.
Using the Platform is Easy
One of the things that has made Crypto.com Pay so successful is how easy it is to use. Clients can simply scan a QR code, and then choose the token they wish to make the payment with.
Cryptos don’t have to be difficult to use, and Crypto.com has a range of tools that people can use to pay with cryptos.
In addition to Crypto.com Pay, the company offers the MCO Visa Debit card, which allows its users to spend cryptos as cash – anywhere that accepts Visa Debit cards.
Of course, Crypto.com Pay wouldn’t be such an easy to use platform if people had to be in the Crypto.com ecosystem to use it.
Anyone who wants to pay with a Crypto.com Pay merchant, and doesn’t have an account, simply has to connect an external wallet, such as WalletConnect or MetaMask, and swap ERC20 tokens for CRO, which will allow them to finish the payment process.
A Growing Marketplace
Crypto.com Pay is widely used by platforms like OpenCart, NopCommerce, WooCommerce, Ecwid, Oveit, and Prestashop – and is also open to merchants in the UK and EU.
In reality, for qualifying merchants, accepting crypto payments with the platform is very easy, and Crypto.com creates synergies that bring together both crypto holders, and the existing financial system that is forced to deal with legacy assets like fiat currency.
A Bright Future for Crypto.com
With a range of options for crypto trading and payments, Crypto.com is well placed to grow with the token markets. Its token, CRO, has been a consistent performer, and also offers its holders the ability to receive discounts across the entire Crypto.com ecosystem.
With more payment options for crypto users, it is likely that Crypto.com Pay will continue to attract top-tier merchants, as well as e-commerce platforms that need a reliable partner who can deal with the multitude of valuable tokens that are gaining wide acceptance.
If you want to learn more about Crypto.com Pay, or the new addition of numerous tokens to the Crypto.com Pay platform, just click right here for more information!
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