Crypto.com the popular cryptocurrency platform announced today that it had added three new partners to its blockchain.According to the report OS Limited, Paxos and TrustToken have all agreed to be pioneering partners with the Crypto.com Chain.
Kris Marszalek the CEO of Crypto.com revealed his delight about the partnership with Paxos, OS Limited and TrustToken. According to him the Settlement Agents and Stablecoin partnership would help the Crypto.com attain liquidity and price stability for its customers.
Crypto.com Services Boosted With Partnership
The partnership would see Crypto.com improve in its existing operations by leveraging the services of the individual partners within its payment platform Crypto.com Pay.
OS Limited is expected to be its first settlement Agent while Paxos and TrustToken have signed up as stablecoin partners with the blockchain platform.
Crypto.com Chain is envisioned as a novel blockchain solution which would power crypto.com Pay. This in effect means that users would have easier access to receiving or enacting crypto transactions anywhere in across the World.
OS Limited would serve as the settlement agent within the Crypto.com Chain network brokering trading between Crypto.com native CRO Token and other currencies.
While the Stablecoins Paxos and TrustToken would serve as stablecoins that would ensure swift processing of transactions into Fiat currencies for merchants on the platform.
Crypto.com Remains One Of The Top Crypto Payment Platform
This partnership is the highest profile partnership to be announced by Crypto.com and brings about potential developments for its platform. Crypto.com was founded in 2016 and is one of the oldest cryptocurrency payment platform in the blockchain industry.
The blockchain firm has released several products including a Visa debit card with no charge fee which allows users to transact in cryptocurrencies.
The addition of Paxos as its stablecoin partner is a good move as Crypto.com would be able to pass regulatory conditions. Paxos is a New York Trust charter company and financial institution that is regulated by the New York stock exchange. The firm is also the parent institution of the first regulated stablecoin PAX.
TrustToken is an ERC20 stablecoin that is legally enforced, audited and would serve as a regulatory coin for Crypto.com Pay.