Crypto.Com Reveals Plan To Spend $200M Support Cryptocurrency Startups

0
418

Crypto.com wants to be among the major players pushing towards advancing the cryptocurrency industry, and it seems to be doing a lot to reach its set goal. For example, it has expressed its interest in striking long-term partnerships with all entrepreneurs within the crypto segment and hopes they achieve a lot together.

The venture arm and its role

Crypto.com has established a venture arm targeting giving most startups direct access to almost anything they might require to succeed. For example, it has plans underway to provide them with access to the global user base. However, the most critical move is setting aside about $200 million, which intends to use to support the various cryptocurrency startups.

Crypto.com hopes that the plan to expand business collaboration with crypto and blockchain industry entrepreneurs succeeds. One of its significant moves was the set up of a venture arm called Crypto.com Capital, whose purpose was to accelerate the growth of the crypto startups. The bigger goal, according to sources, is that the company aspires to make some significant advancement towards the overall development of the entire crypto segment.

The $200 million fund set aside will facilitate the seed rounds-undertakings set to support and uplift the most vibrant startups. Reports show the single investments to play around $100,000 and $3 million. On the other hand, the Series A funding rounds are set to oscillate from $3 million to $10 million.

Marszalek’s thoughts

Crypto.com, previously known as Monaco, came into existence back in 2016 and undertook many progressive activities. One of its most extraordinary moves was unveiling a mobile payments app that awarded users discounts of up to 20%, specifically for the user with blockchain’s native CRO coins.

The co-founder and CEO of Crypto.com, Kris Marszalek, has disclosed that they will be channeling efforts and resources towards the establishment of some meaningful partnerships. Reports from unconfirmed sources reveal that the project might currently have a user base of about 10 million. Crypto.com acknowledges the crypto platform as a segment that has continued witnessing significant growth.

LEAVE A REPLY

Please enter your comment!
Please enter your name here