Crypto.com no longer supports meme coins
Although meme coins have been abolished, Crypto.com lists three new cryptocurrencies in its earn program. Crypto.com accepts payments via Apple Pay for the purchase of digital assets on the platform
On June 27, crypto exchange Crypto.com announced a major overhaul of its popular Earn program. As part of the revamp, Crypto.com has removed meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) along with 13 other digital assets.
However, it has added three other cryptocurrencies – Zilliqa (ZIL), Fantom (FTM) and NEAR – to the Earn program. Crypto.com plans to offer commission rates of 5 percent per year for FTM and 6 percent for ZIL and NEAR. Commenting on the cryptocurrencies being removed from the Earn program, Crypto.com said :
“Existing temporary grants for these tokens will remain unchanged and will continue until expiration. Funds from active flexible-term allotments for the tokens listed above will be automatically transferred to customers’ crypto wallets by June 28, 2022, 10:00 UTC.
Crypto.com also announced reward rate changes for five of its stablecoins: TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD). However, the reward rates for the popular cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Solana (SOL) and Polygon (MATIC) remain unchanged.
Crypto community reactions to the announcement were mixed. Some felt it was not right to remove the popular memecoins from the Earn program. Others expressed their disappointment with the low pay rates offered by Crypto.com.
Crypto.com now accepts Apple Pay
On June 24, Crypto.com announced it was accepting Apple Pay in the app for US customers. In detail it says :
“We’re excited to announce that the Crypto.com app now allows customers to quickly and securely buy crypto with Apple Pay. Current credit and debit card fees and trading limits for crypto purchases continue to apply.”
Currently, the new payment option is only available to customers in the United States and still excludes residents of New York State and the US Overseas Territories. The crypto exchange said it would gradually expand the feature to other countries in the future.
To use the payment option, customers must first add their debit or credit card to the Apple Wallet on their iPhone. From there, customers can use the Apple Payments app to pay for crypto purchases.
Crypto.com Receives MAS Approval
Incidentally, Crypto.com recently received approval from the Monetary Authority of Singapore (MAS) for their Major Payment Institution License. This approval will allow Crypto.com to offer a range of payment services in the country. Commenting on this development , Kris Marszalek, Co-Founder and CEO of Crypto.com said :
“The Monetary Authority of Singapore sets high regulatory standards that encourage innovation while protecting consumers. The approval in principle of our application reflects the trusted and secure platform that we have worked with great dedication to build. We look forward to continuing to work with MAS and deepening our roots in Singapore – a thriving market for fintech innovation known for its well-regulated business environment.”