Cronos, in collaboration with Crypto.com, has launched a new service that allows users to convert and withdraw their digital assets directly onto prepaid cards.
This innovation represents a significant step forward in the integration between DeFi and traditional finance, offering almost instant access to funds.
Summary
How does the Cronos and Crypto.com service for prepaid cards work?
Traditionally, converting cryptocurrencies into fiat currency and spending them in the real world requires multiple steps: selling the assets on an exchange, transferring the funds to a bank account, and waiting for the credit.
The Cronos service eliminates these obstacles, allowing users to move their funds directly onto a prepaid card, without having to go through complex processes.
This solution is particularly useful for those who use cryptocurrencies daily, making access to their funds quicker and more intuitive.
Furthermore, the system is designed to automatically convert unsupported tokens into USDC or ETH, two of the most used cryptocurrencies in the sector. The operation of this new feature is simple:
- – Users select the assets to withdraw.
- – Unsupported tokens are converted into USDC or ETH.
- – The funds are transferred directly to a carta prepagata Crypto.com.
This process drastically reduces waiting times, offering an experience similar to that of a traditional card payment.
The automatic conversion of assets further simplifies the process, ensuring greater accessibility even for those who are not familiar with manual conversions.
By connecting their non-custodial web3 wallet on Cronos EVM or Cronos zkEVM to a Crypto.com prepaid card, users can top up from Cronos EVM or Cronos zkEVM to Crypto.com Crypto wallet, then to the Crypto.com prepaid card with a single click.
If a token is not directly supported, the platform automatically exchanges it into USDC or ETH, providing almost immediate access to cryptocurrency assets to spend in the real world.
The impact on the DeFi sector
One of the main obstacles to the adoption of decentralized finance is the difficulty of transforming digital assets into spendable value in the real world.
This new service from Cronos bridges the gap between Web3 and traditional finance, facilitating the use of cryptocurrencies for everyday purchases.
The elimination of long waits and complicated procedures could also encourage a greater adoption of DeFi solutions, attracting users who have so far avoided the sector precisely because of the complexity of withdrawals.
Ken Timsit, head of Cronos Labs, stated the following:
“With this new feature, Cronos users can withdraw their cryptocurrency assets almost instantly and spend them wherever prepaid cards are accepted. By eliminating the waiting times and multiple steps usually required for cashing out, Cronos brings DeFi closer to everyday life. As a result, users can hold onto their digital assets longer, knowing they can easily withdraw funds at any time.”
Advantages for users
The integration between Cronos and Crypto.com offers several benefits:
- – Immediate access to funds: users can use their cryptocurrencies without having to wait days for conversion.
- – Greater simplicity: the automated process reduces the need for manual operations and advanced technical knowledge.
- – Flexibility in the use of cryptocurrencies: the ability to withdraw directly onto a prepaid card makes digital assets more accessible and usable.
This solution represents an opportunity for those who wish to take advantage of the benefits of decentralized finance without having to face technical or bureaucratic obstacles.
The initiative of Cronos and Crypto.com demonstrates how the blockchain ecosystem is evolving to offer more practical and accessible solutions.
The integration between traditional financial instruments and DeFi is essential to ensure that cryptocurrencies can be used smoothly and without friction.
Eliminating the barriers between the digital world and the real one, this innovation could represent a model for future developments in the sector.
Immediate access to funds is a key element for the growth of decentralized finance, and solutions like this could make cryptocurrencies an increasingly adopted tool on a global scale.
