TL;DR
- Seamless Off-Ramping: Cronos partners with Crypto.com to let users instantly transfer crypto from Web3 wallets to prepaid cards, bridging DeFi and traditional finance.
- Auto-Conversion for Ease: Unsupported tokens automatically convert to USDC or ETH, streamlining spending without the typical wait times.
- Broad Access and Future Integration: Available on both Cronos EVM and zkEVM, with plans to enable automated DeFi yield transfers directly to prepaid cards.
Cronos, a leading blockchain ecosystem, has unveiled a groundbreaking feature that allows users to seamlessly transfer crypto funds to prepaid cards. This innovation, developed in partnership with Crypto.com, marks a significant step in bridging the gap between DeFi and TradFi.
BREAKING: Cronos, in partnership with https://t.co/81vglVztM3, is now the first blockchain to offer direct crypto-to-debit card transfers.
Learn more: https://t.co/tMd2VmkPC7
Get started now: https://t.co/R20AlgGWMF
Users can link their web3 wallets and instantly fund their… pic.twitter.com/h2YqvmmX1M
— Cronos (@cronos_chain) February 27, 2025
Simplified Crypto Spending
By enabling users to off-ramp their crypto assets almost instantly, Cronos is bringing DeFi closer to everyday life. The new feature allows users to link their Web3 non-custodial wallets on Cronos to a Crypto.com prepaid card. From there, they can top up funds with just one click.
If a token is not directly supported, the platform automatically converts it to USD Coin (USDC) or Ethereum (ETH). This seamless process eliminates the usual wait times and multiple steps involved in cashing out, making it easier for users to spend their crypto assets wherever prepaid cards are accepted.
Enhancing User Experience
Ken Timsit, Head of Cronos Labs, emphasized the convenience of this new feature, stating, “By eliminating the wait times and multiple steps usually required when cashing out, Cronos is bringing DeFi closer to everyday life.”
Eric Anziani, President and COO of Crypto.com, echoed this sentiment, highlighting the collaboration’s role in driving mass adoption of blockchain services by simplifying the user experience.
Available on Cronos EVM and zkEVM
The service is available on both the Cronos Ethereum EVM and Cronos Zero-Knowledge Ethereum Virtual Machine. Thanks to Cronos zkEVM’s direct bridge to Ethereum, Ethereum users can also benefit from this feature. This integration ensures that users can off-ramp their crypto assets to a Crypto.com prepaid card with ease, further enhancing the utility of their digital assets.
Future Plans for DeFi Yields
Cronos is gearing up to launch an automated transfer system for DeFi yields. This system will enable users to route their staking rewards and other earnings directly to their Crypto.com prepaid card. By integrating decentralized finance even further into daily financial activities, Cronos aims to make it easier for users to manage and spend their digital assets.
