Who Owns Crypto.com App
The article traces the origin of the Crypto.com domain while viewing its current worth, exploring its future from the website CEO’s lens.
Crypto has been the most significant buzzword in the world of finances in 2020, and everyone has something to say about the emerging crypto #currency. Call it obsession, business, passion, but Crypto has lured both high profile industrialists and those having the smallest share in stock markets. So what is actually Crypto.com? When was it established? Who owns it? What’s with the crazily huge demand worldwide? Let’s take a look at it:
What is Crypto?
Crypto is a form of digital #currency or a virtual #wallet counted as #coins. The digital currency derives its name from the word “crypto”, referring to complex cryptography of processing machine codes that enables its transactions across a decentralized network of systems.
A distinct feature of cryptocurrency is that it works across deconcentrated systems and operates through codes, often escaping official scrutiny that a physical currency undergoes. Cryptocurrency majorly remains intangible even though some of it has entered into the physical world, merging with credit cards.
Who created Crypto.com?
Crypto.com was initially registered in 1993 by Matt Blaze, a Computer & Information Science Professor at the University of Pennsylvania. While Blaze had announced that his domain was “not for sale” and turned down several offers for trade, he eventually sold it off to Hong Kong-based cryptocurrency payments platform Monaco, owned by Kris Marszalek, in an undisclosed deal.
According to media reports, the deal could potentially attract $10 million, but Monaco CEO Kris Marszalek declined to discuss specifics. After the takeover from Blaze, Marszalek rebranded Monaco as “Crypto.com” in 2018. When asked about the relaunching of Monaco, Marszalek expressed that his mission behind the acquisition was to accelerate the internationalization of cryptocurrency.
Marszalek describes himself as a “lifelong company builder” who has founded several startups before making a foray into the crypto space. For Crypto.com, he has envisioned giving users complete control over their finances and management, evident from the company’s current offerings of crypto debit cards, crypto wallets, and more. Before Crypto.com, Marszalek served as CEO of South Asia’s most prominent e-commerce retail platforms Beecrazy and Ensogo.
2021 Roadmap Crypto.com
Although a new player in cryptocurrency, Crypto.com has exploded in popularity since 2018, especially in 2020, after it got integrated with Ecwid, Ledger and Travala.com. In May 2020, Crypto.com earned a new milestone by expanding access to crypto-backed debit cards, thus obtaining operational licenses in the European Union, Australia, Malta and Canada. Experts predict the crypto debit card will soon be welcomed elsewhere in the world.
Guided by Marszalek’s vision of internationalization of digital currencies, Crypto.com released Defi Swap, encouraging decentralized exchange for its online users. The year 2020 fueled success for digital payments usage amid the COVID-19 pandemic, proving a win-win scenario for Crypto.com, whose user interest grew exponentially. Very soon, in October 2020, Crypto.com’s users had reached a whopping 5 million, five times higher than its September 2019 count, which was 1 million users.
2021 forecasts for Crypto.com include mainstreaming of crypto-backed debit cards, trade using cryptocurrencies, and more regulatory licenses while simultaneously expanding the usage of Defi for currency exchange. Marszalek’s next target for Crypto.com is to reach 15 million active users globally by the end of 2021.
