TL;DR Breakdown
- Crypto.com proposes to invest $200 million in the seed and Series A funding rounds of crypto startup companies.
- The CEO revealed that the platform aims to build lasting partnerships with entrepreneurs in the crypto space.
Crypto.com proposes to invest in crypto startups
A crypto retail platform, Crypto.com, recently announced that it would be investing $200M in emerging startups in the blockchain space. The platform revealed that the move is part of its plans to promote a smoother transition into the crypto world.
The company has purported to invest a sum between $100,000 and $3M in the seed rounds. it would also release a sum between $3 million and $10 million for Series A round. The firm made its stance clear that it is willing to build lasting relationships with entrepreneurs in the crypto space.
Since Crypto.com launched about 5 years ago, it has provided its users with several earning opportunities. The platform gives up to a 20% discount to users who makes purchases with the blockchain’s native coin. Stakers on the platform can earn up to 14% as returns. Also, crypto.com has provided its users with a Visa card that supports both fiat and crypto.
Crypto startups to benefit from the platform
According to the CEO, Kris Marszalek, he said that building lasting partnerships is a top priority for the company. Therefore, the firm launched a cryptocurrency arm called crypto.com capital this month.
The platform promised to support crypto startups with their influence as the lead investor. It also said it would give them the chance of a preferential launch on the crypto.com platform.
This will give the startup firm access to the platform’s broad user base, said Bobby Bao, Crypto.com co-founder. A few days ago, the firm had invested in a particular Aston Martin Formula 1 team. Starting this season, the team’s cars would bear the platform’s logo.
