updates its Visa Cards and CRO loses 20% in 24h updates its Visa Cards and CRO loses 20% in 24h
Crypto updates its Visa Cards and CRO loses 20% in 24h

By Stefania Stimolo - 3 May 2022

Chevron down has announced that it has updated its Visa Card rewards programme, which has been active since 2018. However, the response from the market sees CRO lose 20% in just 24 hours. and its new Visa Card rewards plan

visa card cro Visa Card Reward Plans Update has announced that it has updated its Visa Cards, launched in 2018, with a new rewards plan that will take effect from next June 2022. 

“Visa Cards Update: changes to the CRO Card rewards programme. Effective 1 June 2022. No change to card terms until your active 180-day stake expires. No change to 100% reimbursements of popular subscriptions & unlimited airport lounge access”.

This involves a change to the cashback rates in CRO for the different cards, plus the introduction of a cap on monthly rewards for the CRO Card and also a revision to staking rewards. 

For example, for Ruby Steel holders, with active staking, they will receive 0.5% CRO on their spend, compared to the previous 2%. Or, for those with a Jade Green/Royal Indigo card, besides having their cashback in CRO reduced to 1.5% (half of the previous 3%), they will be able to receive a maximum of $50 per month. 

Icy White, Frosted Rose Gold, and Obsidian cardholders, on the other hand, are still free from the monthly CRO card rewards cap. For them, however, the revised rewards rate reduction applies to both cashback and staking, which will drop from 10%-12% annually to 4%-8%. 

The update did not please the market and CRO lost 20% in 24 hours

Rather than leave comments on’s new reduced rates for rewards on its Visa Cards, users chose to take direct action and let the market speak for itself. 

And indeed, looking at the chart of Cronos (CRO), in just 24 hours since the announcement,’s cryptocurrency has lost 20%. 

Specifically, CRO has fallen from a price of $0.35 on Sunday 1/5, to $0.26 yesterday, returning, at the time of writing, to be worth $0.28

CRO remains among the top 20 cryptocurrencies by market capitalization, with a total dominance of 0,42%. This is also a result of the cashback and staking service offered so far by, which has become increasingly popular due to its sponsorships. 

Famous sponsorships in sports and beyond has also become famous for its omnipresence in sporting and other competitions as a result of its sponsorship-based marketing strategy.  

In fact, is the official sponsor of the Italian Serie A, Formula 1, and the stadium of the Los Angeles Lakers basketball team, the Arena. Furthermore, at the end of March, announced that it will be the official sponsor of the World Cup in Qatar in December 2022. has also starred in a number of videos, including the series’ “Fortune Favors the Brave” commercial, which began with Oscar nominee Matt Damon, followed by NBA star LeBron James, which aired for the Super Bowl in February 2022

His last appearance was during the Oscars night, at the Dolby Theatre in Los Angeles, with a commercial promoting fundraising to support Ukraine, devastated by Russia’s attack. 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.