Cronos Launches Prepaid Crypto Card Service

Cronos has unveiled a new prepaid crypto card service, allowing users to easily withdraw funds from their Cronos wallets and directly load them onto a Crypto.com prepaid card for everyday transactions. This innovative service, launched in partnership with Crypto.com, makes it possible for users to link their web3 non-custodial wallets on Cronos EVM or Cronos zkEVM to the Crypto.com card. By doing so, users can top up their Crypto.com Crypto Wallet and then transfer the funds to their prepaid card with just one click.

If a token is not supported directly, the platform automatically converts it into more widely used digital assets, like USD Coin (USDC) or Ethereum (ETH). This new feature eliminates the typical delays and multi-step processes associated with cashing out crypto, providing Cronos users with a seamless off-ramping option.

Ken Timsit, Head of Cronos Labs, explained that this feature brings decentralized finance (DeFi) closer to everyday life by enabling nearly instant access to funds that can be spent anywhere prepaid cards are accepted. It allows users to hold their digital assets longer, with the knowledge that they can easily convert them into spendable currency at any time.

This new prepaid card solution from Cronos follows a trend of expanding crypto payment solutions. Recently, the Avalanche Foundation, in collaboration with Rain, launched the Avalanche Card, and Crypto.com also expanded its Visa payment card program to Latin America, offering benefits like cashback and airport lounge access. The overall growth of such solutions highlights the increasing adoption of crypto for everyday spending.