Crypto.com’s Festive Finale: Crypto Salvation Army Donations, $1M Giveaway, and New Custody Options
This week, digital currency company Crypto.com made a splash with several announcements. Among them was a partnership with the Salvation Army, coinciding with the busy holiday season of Christmas donations. On top of that, the company debuted its very first sports event trading product and launched its U.S. trust entity, the Crypto.com Custody Trust Company.
Crypto.com Announces Salvation Army Partnership, Sports Trading, and U.S. Trust Launch
Crypto.com has wrapped up the year with a string of exciting announcements this week. Leading the charge is a collaboration with the Salvation Army, a worldwide Protestant Christian church and charitable organization. Customers in Singapore can now donate using any of the 250 cryptocurrencies available on the platform.
“Salvation Army Singapore will receive these donations in SGD, enabling them to support their operations to support vulnerable groups over the holiday season,” Crypto.com shared, adding that this donation feature will soon expand to other countries.
After that announcement, Crypto.com introduced its inaugural sports event trading product. The service is now live across the United States via the Crypto.com App and website. According to the details, users making their first sports trade have a chance to win $1 million, awarded in a “Cronos Crypto Basket.”
Although this is a new offering, the firm said the sports event trading product bears similarities to other event contracts available through Crypto.com Derivatives North America, a CFTC-regulated exchange. Additionally, Crypto.com also announced the launch of a U.S.-based custody service tailored for North American customers and qualifying institutions.
With its newly acquired trust company charter, Crypto.com explained it is now authorized to provide custody services to eligible U.S. and Canadian institutions as well as high-net-worth clients. “This step reflects our confidence in the North America market, and we look forward to continuing to enhance and innovate the market for our customers in the market,” Kris Marszalek, the co-founder and CEO of Crypto.com said on Monday.
