’s Blockchain & Crypto Interest System was founded in 2016, with the vision to accelerate the world’s transition to blockchain technology and to bring cryptocurrency to every wallet. By granting customers access to a comprehensive set of DeFi services — alongside the App, Exchange, and Visa Card — the project is doing its part to redefine finance.

Project History

The initial idea for started as Monaco Technologies GmbH in June of 2016 under the leadership of CEO Kris Marszalek and three other founding members. The project was rebranded as on July 6, 2018. In October of 2018, began shipping its Visa Card to users based in APAC markets, and a month later, the project launched the first iteration of the Chain protocol.

On December 19, 2018, proudly announced that it had signed a Memorandum of Understanding (MOU) that would allow Ledger, a blockchain cold wallet provider, to ensure the safekeeping of the platform’s assets. This functionality meant users could utilize the App’s products and services on-demand, while still maintaining a high level of security comparable to what a cold wallet can provide. 

In March of 2019, began shipping its Visa Cards to U.S. customers, and in September, the platform reached the one million user mark. 2020 saw the platform grow exponentially and by October, the company hired its 600th full-time staff member and reached over 5 million users. Value Proposition and Main Components

When the creators of started the project, their vision was to help people around the world control their finances by protecting their identities and private data. In order to make this goal a reality, designed several innovative services — many of which are integrated throughout the App — including:’s flagship product, the App, supports more than 80 crypto assets and seven types of fiat currencies as of this writing, instantly giving users the ability to securely buy, sell, store, send, and track crypto assets. Crypto Earn allows users to earn interest on crypto through competitive yearly dividends of up to 12%, depending on the term and asset type. Users who stake CRO coin enjoy the highest dividends of all asset types. Pay is a mobile payment service built into the App that allows users to shop and pay with cryptocurrency. Users enjoy multiple reward features, including CRO coin cashback for Pay Gift Card purchases and free peer-to-peer transfers with Pay Your Friends. Pay Checkout allows merchants to receive crypto as an additional payment option and receive payment instantly in the fiat currency or cryptocurrency of their choice. Merchants pay zero processing fees for settlements in crypto, or save up to 80% on fees when compared to traditional payment processors.

Crypto Credit enables users to instantly receive a loan with no payment deadline and with no credit check required. Users deposit CRO, BTC, ETH, and other select assets to receive a stablecoin loan. DeFi Wallet is a decentralized and non-custodial wallet — providing users greater flexibility to control their assets. DeFi Wallet includes Chainlink price reference data, offering decentralized price feeds for DeFi tokens. Users can also access DeFi Swap from the Wallet to swap and farm their DeFi assets as well as receive up to Triple Yield for providing CRO coin liquidity and staking CRO coin.

Larger holders of CRO are able to stake CRO coin as a validator on the Chain and earn incentivized network rewards as well as settle transaction fees on the network. The App is also fully integrated with the Exchange, which provides the platform’s users with trading access to more than 80 cryptocurrencies.

On top of all of the above capabilities, users are able to bridge’s financial services and payment solutions with the Visa Card. The card gives users up to 100% reimbursements for Amazon Prime, Netflix, and Spotify and up to 10% cashback on all Airbnb and Expedia purchases (depending on card tier). Visa Cards can provide even more rewards for users, offering up to 8% cash back on purchases depending on the card tier. Card tier is determined by the amount of CRO coin a user has staked. When staking CRO, coins are usually held for a six-month lock-up period, whereby users can earn up to 12% APY on their staked CRO.

All of these services would not be possible without integrating Tendermint’s BFT consensus methodology, which serves as a key piece of infrastructure for the Chain protocol. Tendermint’s fault-tolerant design makes the platform secure, resilient, and permissionless, while also facilitating high speeds and minimal costs for its transactions. Further,’s sophisticated network of nodes expedites the ecosystem’s on-chain settlement, payment infrastructure, and overall service usability.


CRO has a total supply of 100 billion coins that originated from five secure multi-signature wallets, each of which was dedicated to a specific purpose:

  1. Secondary distribution/launch incentives: 30%

  2. Network long-term incentives: 20%

  3. Capital reserve: 20%

  4. Ecosystem grants: 20%

  5. Community development: 10%

The founders of decided it was in the ecosystem’s best interest to freeze 60% of the total CRO coin supply to ensure the project’s long-term viability. The two respective wallets for the capital reserve and network long-term incentive allocations will remain frozen until November 7, 2022. The ecosystem grants wallet will remain frozen until the launch of the new mainnet, which is planned as the next milestone following the successful launch of the Croeseid Testnet in October 2020. Further, the secondary distribution and launch incentives portion (30% of the total supply) of the CRO coin allocation will be deposited into its multi-sig wallet automatically via a smart contract on a recurring daily basis. Its yearly token distribution over the next five years has been set as follows:

  • Year 1: 10% of the total circulating supply (10 billion coins)

  • Year 2: 8% of the total circulating supply (8 billion coins)

  • Year 3: 6% of the total circulating supply (6 billion coins)

  • Year 4: 4% of the total circulating supply (4 billion coins)

  • Year 5: 2% of the total circulating supply (2 billion coins)

The ecosystem started out with MCO (Monaco coin) as its native cryptocurrency but has gradually shifted toward using CRO coin for all of its in-network functionalities. This move is designed to provide a next-generation cryptocurrency infrastructure — and, as a result, looks to eventually unlock a broader set of cryptocurrency-based DeFi functionalities for users. Starting with the inception of the ecosystem, MCO was a primary driver for the App and its various functionalities. However, all users were asked to swap their MCO into CRO coin via the App by November 2, 2020. CRO coin now drives’s services — including its Visa Card, the App, and trading and payment services integration — and will likely power other App functionalities in the future as well.

Cryptopedia does not guarantee the reliability of the Site content and shall not be held liable for any errors, omissions, or inaccuracies. The opinions and views expressed in any Cryptopedia article are solely those of the author(s) and do not reflect the opinions of Gemini or its management. The information provided on the Site is for informational purposes only, and it does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. A qualified professional should be consulted prior to making financial decisions. Please visit our Cryptopedia Site Policy to learn more.

Source link



อีเมลของคุณจะไม่แสดงให้คนอื่นเห็น ช่องข้อมูลจำเป็นถูกทำเครื่องหมาย *