Crypto.com announced the launch of a new exchange today. The Hong Kong-based company is known for issuing custodial wallets and crypto-backed debit cards. The exchange is the latest edition to the crypto services that the company provides. The company was launched in 2016.
“The exchange will complete our ecosystem.”
The CEO of the Crypto.com, Kris Marszalek, said that launching the exchange is the natural next step that allows them to complete their ecosystem play. According to the CEO, in the next bull run, the companies that will thrive are those that manage to build an entire ecosystem. He added that it is tough for a company that only offers one type of service to compete with the companies that offer a broad range of products.
The exchange will support nine cryptocurrencies.
Initially, the exchange will support nine cryptocurrencies, which include Bitcoin (BTC), Ether (ETH), XRP, Litecoin (LTC), EOS, Stellar Lumens (XLM), Tether Dollars (USDT), MCO, and Crypto.com’s native token, CRO.
CRO, BTC, and USDT would be the exchange’s three core trading pairs. Users who would use the company’s native coin CRO would have access to discounts on trading fees “up to 100%.” The exchange also plans to add margin trading in 2020.