Crypto.com, the leading debit and credit VISA card provider for crypto assets, has listed Loopring Protocol token (LRC) on the Crypto.com App today. This will enable the Crypto.com userbase of 3,000,000+ to purchase LRC using credit card or bank transfers — expanding the awareness, accessibility, and utility of the token to the global crypto audience.
All Crypto.com users will be able to purchase the LRC token with fiat currencies and also spend LRC at over 60,000,000+ merchants worldwide who accept VISA through the MCO VISA Card.
LRC is the Loopring protocol’s token. It can be staked by holders to earn protocol fees (a percentage of the volume flowing through all Loopring-based DEXes) and is staked by DEX owners as a bond for service-level guarantees. More information on LRC mechanics here. Further LRC token holders are able to receive discounts on loopring.io zkRollup exchange.
Crypto.com offers an exchange and complete payment experience. Their Monaco Visa Card line launched in October 2018 with five tiers of cards, each with progressively larger MCO staking requirements, cashback rates, and perks. Crypto.com creates a hybrid payment card that can serve as both debit and credit products. The Crypto.com app is designed to be a user-friendly and entirely digital portfolio management software. Customers will be able to perform all core functionality within the app, including wallet management for ERC20 tokens and Bitcoin, KYC, credit increase applications, and P2P transfers.
Loopring is a protocol for scalable, secure exchanges, and payments on Ethereum using zkRollup. You can sign up for our Monthly Update, learn more at Loopring.org, or check out an exchange/payment app at Loopring.io.