CoinDCX, India’s largest and safest cryptocurrency exchange, has announced that crypto payments pioneer Crypto.com will be listing its cryptocurrency CRO token on the CoinDCX exchange. It will be traded in two pairs CRO/BTC and CRO/INR. It means Indian traders trading on the exchange can buy or sell CRO token in exchange for BTC (Bitcoin) or Indian Rupee.
Following the successful listing of the MCO token on CoinDCX earlier this month, the CRO listing marks Hong Kong-based Crypto.com’s official entrance into the Indian market. With the integration of MCO and CRO onto the CoinDCX exchange, CoinDCX bolsters its crypto-based financial services offering, fulfilling its vision of building a trustless, borderless, and all-inclusive crypto ecosystem, a company statement said.
Sumit Gupta, CEO & Co-founder of CoinDCX said, “At a time when we are witnessing unprecedented growth in the use of cryptocurrencies in India, there is a need to provide users with an extensive range of crypto-based financial services that can ensure the faster, simpler, and uninterrupted flow of capital. We are thrilled that CRO is entering India, through our platform, which will help nearly 1.3 billion people in crypto trade CRO through INR.”
While the MCO token features key payment and finance utilities within the Crypto.com ecosystem, the CRO token is primarily used for settlements on the Crypto.com Chain, enabling transactions worldwide between merchants and cryptocurrency users in a seamless, secure and cost-efficient way.
“By using CRO as an intermediary currency on the Crypto.com Chain, participants — customers, merchants, crypto customer acquirers, and merchant acquirers — can convert their cryptocurrencies to their fiat counterparts at a much-reduced cost,” said Neeraj Khandelwal, Co-founder of CoinDCX. “The combination of MCO and CRO creates a full-service, global system that encourages the adoption of cryptocurrencies that is inspired by real-life use cases.”
CoinDCX is India’s largest and safest cryptocurrency exchange. Built with user experience and security in mind, CoinDCX provides instant fiat to crypto conversions with zero fees, so that users can have access to a diverse suite of financial products and services that are backed by industry-leading security processes and insurance protection, the company said.
In 2019, the CRO token and the Crypto.com Chain project have made headlines based on the token’s dramatic price increases which propelled it to the top 50 positions on the CoinMarketCap’s ranking. The listing of MCO and CRO on CoinDCX follows the successful closing of CoinDCX’s Series A funding of $3 million from Polychain Capital, Bain Capital Ventures, as well as HDR Group, Operator of BitMEX.