What does Crypto.com’s multi-year deal with NYSE-listed firm mean for CRO?
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Crypto.com’s native token, Cronos (CRO), has seen slight price movement following the announcement of a multi-year partnership with Bread Financial (NYSE: BFH).
Bread Financial is a tech-forward financial services company, and its deal with one of the cryptocurrency market’s top players is exciting investors.
CRO traded near $0.09 at the time of writing. While the overall price on the day was flat, the Cronos token was up in the past week.
Crypto.com inks major deal with NYSE-listed firm
According to an announcement on Thursday, the deal will introduce the Crypto.com Visa Signature Credit Card program in the US.
Not long ago, Crypto.com revealed its major expansion in the US. This is another major milestone.
The Crypto.com Visa Signature Credit Card will allow customers to make purchases anywhere Visa is accepted.
Users will earn uncapped CRO rewards at rates ranging from 1.5% to 5% across five tiers, from Midnight Blue to Obsidian.
Higher tiers offer additional perks through Crypto.com’s Level Up Program, including unlimited Spotify and Netflix rebates.
For the first 12 months after account opening or tier upgrades, select tiers will enjoy elevated reward rates.
Customers can apply via the Crypto.com app, instantly add approved cards to digital wallets, and manage CRO rewards, which are deposited into their Crypto Wallet for trading, staking, or other investments.
“Partnering with a tech-forward company like Bread Financial to create innovative payments solutions provides our customers with a rewarding user experience and further advances the adoption of crypto,”said Joe Anzures, general manager of Americas and EVP of payments at Crypto.com.
According to Bread Financial’s chief commercial officer, Val Greer, the initiative is a huge step in the right direction for crypto adoption.
“This credit card offers straightforward, compelling rewards that will help even the most novice trader maximize their investments with every purchase,” Greer said, adding:
“We are excited to team up with Crypto.com to unlock this new payment option that will quickly become a must have credit card for its customers.”
What does this mean for CRO?
This news will likely fuel further optimism around CRO, which reached a high of $0.10 in March.
Amid broader bullish sentiment in the crypto market, the price may move higher in the coming weeks.
CRO’s price has responded positively to similar developments in the past, including collaboration with a Trump-linked company.
While the token remains below its all-time high of $0.96 from November 2021, its recent performance suggests potential for further upside, especially as Crypto.com continues to roll out innovative products.
The post What does Crypto.com’s multi-year deal with NYSE-listed firm mean for CRO? appeared first on Invezz
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