Crypto.com announced the launch of Crypto.com Capital. Its venture arm has set aside $200 million to invest in promising cryptocurrency startups.
The move was made to accelerate the growth of cryptocurrency startups and advance the growth of the industry in general.
Said Kris Marszalek, co-founder, and CEO. “Crypto.com Capital gives founders building in the crypto industry two things. A reputable lead investor for their seed or series A rounds. And the priority of launch on the world’s fastest-growing retail crypto platform with over 10 million users.
“Crypto.com Capital will lead seed rounds with check sizes between $100k and $3 million. And Series A rounds from $3 million to $10 million. “We’re looking for long-term partnerships with entrepreneurs in every sector of the cryptocurrency industry. So we can advance it together.”
Bobby Bao, the co-founder of Crypto.com and leader of the new Capital wing, added. “The motto and operating principle of Crypto.com Capital is “Founders First.”
“As company builders ourselves, we understand how hard it is to bring game-changing ideas to life. Founders can count on us to move fast and provide both capital and access. To a global user base, helping them succeed.”
Crypto.com was founded in 2016 and is headquartered in Hong Kong with over 900 employees. It has since launched a mobile payments app. That gives users a 20% discount when purchasing with the blockchain’s native CRO coins.
The project also introduced a staking program that returns up to 14% interest and a Visa card that can be filled with crypto or fiat.
Crypto.com serves over 10 million customers today with the world’s fastest-growing crypto app. Along with the Visa Card, the Exchange, and DeFi Wallet.
Crypto.com becomes sponsor of Aston Martin Formula 1 racing team
Furthermore, Crypto.com became a sponsor of the Aston Martin Formula 1 racing team. The project’s logo will appear on the team’s cars during the 2021–2022 race season.