Crypto.com, one of the renowned cryptocurrency exchanges, recently announced that it is launching a digital assets trading platform to cater to people in the United States. It will first be given access to waitlisted users before a progressive rollout. In addition, the company went on to say that the VIP users of the trading platform would get access to cutting-edge market insights, rewards as well as exclusive events. Crypto.com has issued an invitation to institutional investors in the US to join the waitlist in order to get early access to the platform. They do plan on making the platform accessible to retail investors down the line.
Since Crypto.com had first opted to create a mobile platform before launching a traditional one, Americans have been using its mobile app for leveraging its services. According to the company, the exchange is in the list of top five crypto trading platforms in terms of spot trading volume. Likewise, there are 2.7 million transactions that are supported by its matching engine every second and the core latency is 50 microseconds, which is extremely low. The spot volume for Crypto.com on March 15th, 2022 helped it reach the fourth spot in terms of trading volume in 24 hours.
The announcement from the company further dictated that thanks to its partnerships with Circle and Silvergate, it is able to offer its clients with seamless transfers in US dollars. The last year has seen Crypto.com make some big moves and it has entered into agreements and partnerships with a number of renowned brand names. In June of last year, the company signed a long-term agreement with the Ultimate Fighting Championship (UFC), the entertainment company, which was worth $175 million. Likewise, it also decided to acquire the naming rights to the Los Angeles’ iconic Staples Arena in mid-November last year. Therefore, it is now known as Crypto.com Arena.
The company had also decided to enter into a partnership with Angel City Football Club (ACFC) at the end of last year, but then there was an unexpected hiccup in 2022. The trading platform was breached on January 17thand the company revealed that $34 million had been compromised in terms of crypto and 438 accounts had been affected. However, the company did not let this get them down because at the end of January, they entered into a partnership with LeBron James. The deal with the NBA star is for multiple years and the company’s Super Bowl commercial that aired in February also starred the basketball player.
The announcement for the US crypto exchange as made by the company via Twitter through their official social media account, Crypto.com Institutional. The company said that some things are worth waiting for and that their exchange would now be available in the US, giving priority to institutional investors. The company also elaborated that it will offer deep liquidity to its users, regardless of market conditions and would also offer robust security to its clients. This is undoubtedly an interesting announcement and is certainly a big one for Crypto.com.