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Crypto.com Expands Services With Shopify Offering 0 Transaction Fees

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·2-min read
In this article:
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Key Insights:

  • Shopify will use Crypto.com Pay to enable crypto payments.

  • The facility will allow merchants to receive cryptocurrencies with 0 transaction fees.

  • Crypto.com is pushing adoption by recently announcing a five-year partnership with AFL.

In an announcement today, one of the world’s best-known cryptocurrency exchanges, Crypto.com, enabled Shopify merchants to receive payments in cryptocurrency with the help of Crypto.com Pay.

Crypto.com Expands Merchant Reach

With this integration, Shopify merchants will be able to tap the market of customers who prefer to pay in cryptocurrencies and also open up opportunities for the current users who are looking to make use of this facility.

Crypto.com is even offering to waive the 0.5% settlement fee for the first month after integration on all transactions to incentivize Shopify merchants further. This will also help Crypto.com expand its payment services to other Shopify users as well.

Currently, Crypto.com enables users to make payments all around the world with 0 transaction fees, and they also incentivize individuals to make use of its native token, Cronos, with its payment platform. Users who pay through Crypto.com using Cronos receive a significant amount in crypto-cashback, which can run up to 10% during certain periods.

Going forward, Crypto.com users will be able to pay Shopify merchants using 20 cryptocurrencies ranging from Bitcoin to Apecoin, including Ethereum, Cronos, Dogecoin, and Shiba Inu as well.

Commenting on this announcement, Co-founder and Chief Executive Officer (CEO) of Crypto.com, Kris Marszalek, stated,

“Providing more customers and merchants the ability to engage in commerce using cryptocurrencies is a priority for Crypto.com. We are incredibly excited to integrate into Shopify, and to bring this capability to even more customers and merchants around the world.”

Crypto.com Furthers Its Partnerships

Marketing and advertising are the strongest suits of Crypto.com with brand ambassadors like Matt Damon. The exchange is thus building on it to reach a wider audience.

As per that strategy, the most recent play was Crypto.com’s five-year partnership with Australian Football League, becoming the Official Cryptocurrency Exchange and Official Cryptocurrency Trading Platform for both AFL and AFLW.

But while it excels on the expansion front, it might not be doing so well on the investor front as Cronos holder try to recover from the devastating crash of May 9.

Although CRO is up by 16.64% over the week, it will be hard for the altcoin to counter the 43.35% plunge in price during the crash.

Cronos lost over 43% during the recent market crash
Cronos lost over 43% during the recent market crash

This article was originally posted on FX Empire

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