What is Cronos (CRO)?
Cronos (CRO) is the native token of the Crypto.com ecosystem and the Cronos EVM-compatible blockchain. Built on the Cosmos SDK with Ethereum Virtual Machine compatibility, Cronos enables fast, low-cost DeFi transactions while connecting to the broader Cosmos ecosystem via IBC (Inter-Blockchain Communication). CRO powers the Crypto.com App, Exchange, DeFi Wallet, and the popular Crypto.com Visa card program, serving over 100 million users.
Key Facts
What is Cronos?
Cronos (CRO) serves a dual purpose: it is both the native cryptocurrency of the Crypto.com platform — one of the world's largest cryptocurrency exchanges and financial services companies — and the native gas token of the Cronos EVM-compatible blockchain. Built with Ethereum Virtual Machine compatibility, this dual role gives CRO utility across centralized exchange services and decentralized finance.
The Cronos blockchain is built on the Cosmos SDK with EVM compatibility provided by the Ethermint module. This means any Solidity smart contract that runs on Ethereum can be deployed on Cronos with minimal modifications. Developers get Ethereum's mature tooling (MetaMask, Hardhat, Remix) combined with Cronos's faster block times (~6 seconds) and significantly lower gas fees.
The broader Crypto.com ecosystem includes the Crypto.com App (100M+ users), Crypto.com Exchange, DeFi Wallet, NFT marketplace, and the Crypto.com Visa card program. CRO is the connecting thread across all these products, providing staking benefits, fee discounts, and reward multipliers throughout the platform.
Who Created Cronos? A Brief History
Monaco and Crypto.com Origins
The project began in 2016 as Monaco, founded by Kris Marszalek, Bobby Bao, Rafael Melo, and Gary Or in Hong Kong. Monaco's original vision was to build a cryptocurrency-powered Visa debit card that would let users spend crypto at any merchant that accepts Visa. The company raised $26.7 million through an ICO in 2017.
Rebranding to Crypto.com
In July 2018, Monaco rebranded to Crypto.com after acquiring the premium domain name. The company also renamed its token from MCO to CRO (Crypto.com Coin). This rebrand signaled a broader ambition beyond just a Visa card — Crypto.com aimed to become a comprehensive cryptocurrency platform.
Key Milestones
- • 2016: Monaco founded in Hong Kong by Kris Marszalek, Bobby Bao, Rafael Melo, and Gary Or.
- • 2018: Rebrands to Crypto.com; CRO token replaces MCO; Visa card program launches.
- • 2019: Crypto.com Exchange launches; ecosystem expansion accelerates.
- • 2021: CRO token burn reduces supply from 100B to 30.26B; Cronos EVM mainnet launches; Crypto.com Arena naming rights acquired for $700M.
- • 2022: 2022 — Formula 1, UFC sponsorships; platform reaches 70M+ users.
- • 2023: Cronos zkEVM testnet launches, bringing zero-knowledge proof technology to the ecosystem.
- • 2024: 2024 — Crypto.com surpasses 100 million users; Cronos zkEVM development begins.
Cronos EVM Chain Launch
In November 2021, Crypto.com launched the Cronos mainnet — an EVM-compatible blockchain built on Cosmos SDK. This gave the CRO token a new dimension beyond the centralized platform: CRO became the gas token for a thriving DeFi ecosystem. Cronos Labs was established as the entity responsible for developing and promoting the Cronos blockchain.
How Cronos Works
The Cronos ecosystem consists of two chains and a centralized platform, all connected by the CRO token.
EVM Compatibility (Ethermint)
Cronos achieves EVM compatibility through the Ethermint module, which runs the Ethereum Virtual Machine inside a Cosmos SDK chain. This means: • Solidity smart contracts work on Cronos with no changes • MetaMask and other Ethereum wallets connect to Cronos by adding the network • Ethereum developer tools (Hardhat, Remix, Truffle) work natively • Existing Ethereum dApps can be ported to Cronos with minimal effort Cronos processes blocks approximately every 6 seconds with gas fees significantly lower than Ethereum mainnet.
Cosmos SDK Foundation
Both the Crypto.org Chain and Cronos EVM chain are built on the Cosmos SDK, a modular framework for building application-specific blockchains. The Cosmos SDK provides Tendermint BFT consensus out of the box — a Byzantine Fault Tolerant consensus engine that achieves fast finality (blocks are final once committed, no reorgs).
Tendermint Consensus
Cronos uses Tendermint Byzantine Fault Tolerant (BFT) consensus, inherited from the Cosmos SDK. Validators propose and vote on blocks in rounds, achieving finality once two-thirds of validators agree. This provides fast block times (~5-6 seconds) and deterministic finality, meaning transactions are irreversible once confirmed — unlike probabilistic finality in proof-of-work chains.
Inter-Blockchain Communication (IBC)
As a Cosmos SDK chain, Cronos supports IBC — a protocol for transferring tokens and data between Cosmos-based blockchains. This enables CRO and other tokens to flow between Cronos, Crypto.org Chain, Cosmos Hub, Osmosis, and other IBC-enabled chains without centralized bridges.
The Crypto.com Ecosystem
CRO provides utility across Crypto.com's full product suite:
| Product | Description | CRO Role |
|---|---|---|
| Crypto.com App | Flagship mobile app for buying, selling, and managing 250+ cryptocurrencies with 100M+ users. | Staking unlocks higher Visa card tiers and better Earn rates. |
| Crypto.com Exchange | Full-featured trading platform with spot, margin, and derivatives trading. | Staking provides trading fee discounts, higher withdrawal limits, and Syndicate access. |
| DeFi Wallet | Non-custodial wallet for interacting with DeFi protocols on Cronos and other chains. | CRO is the native gas token for Cronos DeFi transactions. |
| Visa Cards | Metal Visa debit cards with cashback tiers from 1% to 8%, plus subscription rebates. | CRO staking amount determines card tier and benefits level. |
CRO is the connecting thread across all Crypto.com products, providing staking benefits, fee discounts, and reward multipliers throughout the platform.
Why Cronos Has Value
CRO derives value from its multi-layered utility across the Crypto.com ecosystem. On the centralized platform, CRO unlocks Visa card tiers with cashback up to 8%, trading fee discounts, higher Earn rates, and priority access to token launches. On the Cronos chain, CRO is required for gas fees on every DeFi transaction.
Crypto.com's aggressive growth strategy — including the $700 million Crypto.com Arena naming rights deal, Formula 1 sponsorship, and UFC partnership — has built massive brand recognition. With over 100 million users, Crypto.com has one of the largest user bases in the crypto industry, creating sustained demand for CRO across staking, DeFi, and utility use cases.
The 2021 token burn reduced CRO's total supply from 100 billion to approximately 30.26 billion, significantly improving the tokenomics. CRO's fixed supply combined with growing utility demand from the Visa card program, DeFi gas fees, and staking creates a favorable supply-demand dynamic for long-term value accrual.
How to Buy Cronos
CRO is available on many exchanges, with the deepest liquidity on Crypto.com itself.
1Compare providers
Use coinvela to compare CRO prices and fees across exchanges. Crypto.com offers the most integrated experience, but other platforms may have competitive rates.
2Create an account
Sign up with your chosen exchange and complete identity verification (KYC).
3Fund your account
Deposit funds via bank transfer, credit/debit card, or cryptocurrency. On Crypto.com, you can buy CRO directly with fiat in the app.
4Buy CRO
On Crypto.com, buy CRO directly in the app. On other exchanges, navigate to the CRO trading pair (e.g., CRO/USD or CRO/USDT) and place your order.
5Stake or Use
Consider staking CRO for Visa card benefits on the Crypto.com App, or transfer to the Cronos chain for DeFi activities. You can also hold in a personal wallet for long-term storage.
Next step: Compare CRO exchange rates and fees to find the best price.
How to Store Cronos
Wallet Types for CRO
CRO exists on multiple chains, so wallet choice depends on which chain your CRO is on:
- • Crypto.com App: The easiest option for staking toward Visa card tiers and using Crypto.com Earn. Custodial — Crypto.com holds your keys.
- • Software Wallets: MetaMask (Cronos EVM), Crypto.com DeFi Wallet (supports both chains), or Keplr (Crypto.org Chain / Cosmos). Required for DeFi interactions.
- • Hardware Wallets: Ledger supports CRO on Cronos EVM (as an EVM network) and Crypto.org Chain. Best for long-term secure storage.
Hardware Wallets
For maximum security, use a hardware wallet like Ledger. Ledger supports CRO on both the Cronos EVM chain (added as a custom EVM network) and the Crypto.org Chain. Hardware wallets keep your private keys offline, protecting against online threats. Trezor also supports CRO as a custom EVM token.
Crypto.com DeFi Wallet
The Crypto.com DeFi Wallet is a non-custodial option that gives you full control over your private keys. It supports Cronos EVM, Crypto.org Chain, and Ethereum networks, and includes built-in DApp browser for interacting with DeFi protocols directly.
Protect Your Recovery Phrase
When using a self-custody wallet, write down your seed phrase on paper and store it securely. Never share it online or enter it on any website. If you lose your seed phrase and your device is lost, your CRO will be permanently inaccessible.
How to Use Cronos (CRO)
Visa Card Staking
The most popular use of CRO is staking on the Crypto.com App to unlock Visa card tiers. Higher tiers provide cashback on all card spending, subscription rebates (Spotify, Netflix, Amazon Prime), airport lounge access, and higher interest rates on Crypto.com Earn deposits.
DeFi on Cronos
The Cronos DeFi ecosystem includes decentralized exchanges (VVS Finance, MM Finance), lending protocols (Tectonic), yield aggregators, and NFT marketplaces. Cronos's EVM compatibility means many popular Ethereum DeFi protocols have deployed on Cronos, offering the same functionality with lower fees.
Gaming and NFTs
Cronos hosts a growing gaming ecosystem through partnerships and Cronos Play — a suite of developer tools for building blockchain games. The Crypto.com NFT marketplace features drops from major brands and artists, with CRO used for purchases and fees.
NFTs on Cronos
Cronos hosts an active NFT ecosystem, including the Crypto.com NFT marketplace and third-party platforms. Users can mint, buy, sell, and trade NFTs using CRO as the primary payment token. The low gas fees on Cronos make NFT transactions significantly more affordable than on Ethereum mainnet.
Risks
CRO carries risks including: heavy dependence on Crypto.com's business success, regulatory risk across multiple jurisdictions, competition from other exchange tokens and DeFi chains, centralization concerns (Crypto.com controls the platform that drives most CRO demand), and changes to the Visa card program that could reduce staking incentives.
The 2022 crypto market downturn led to Crypto.com reducing card benefits, demonstrating that CRO utility is subject to business decisions.
Notable People Behind Cronos
Crypto.com and Cronos were built by a Hong Kong-based team with ambitions to bring cryptocurrency to the mainstream.
Kris Marszalek
Co-founder and CEO of Crypto.com. A serial entrepreneur from Poland, Marszalek previously founded several tech companies including Ensogo (a Southeast Asian e-commerce platform). Under his leadership, Crypto.com has grown to over 100 million users, secured the Crypto.com Arena naming rights, and launched the Cronos blockchain.
Bobby Bao
Co-founder of Crypto.com responsible for corporate development and partnerships. Bao played a key role in acquiring the crypto.com domain name and negotiating major sponsorship deals including the Crypto.com Arena, F1, and UFC partnerships that built the brand's global recognition.
Rafael Melo
Co-founder and CFO of Crypto.com. Melo oversees the company's financial operations and regulatory compliance across multiple jurisdictions. His financial expertise has guided the company through multiple market cycles.
Gary Or
Co-founder and CTO of Crypto.com. Or leads the technical development of the Crypto.com platform, the Cronos blockchain, and the company's security infrastructure. His engineering team has built the technology stack serving over 100 million users.
Regulation Overview for Cronos
Regulatory Overview
Crypto.com is one of the most actively regulated cryptocurrency companies globally, holding licenses and registrations in numerous jurisdictions. This regulatory compliance benefits CRO by ensuring the platform that drives most of its utility operates within legal frameworks.
Regulation by Country
CRO's availability is tied to Crypto.com's regulatory status in each market:
United States: Crypto.com is registered as a Money Services Business with FinCEN and holds state money transmitter licenses. CRO is available for US users on the Crypto.com App and Exchange, though some features (like derivatives) may be restricted.
Canada: Crypto.com is registered with FINTRAC and operates under provincial regulatory frameworks. CRO and the Visa card program are available to Canadian users.
European Union: Crypto.com has obtained MiCA compliance and holds registrations in multiple EU member states. This positions CRO and Cronos favorably under the new European regulatory framework.
Australia: Crypto.com holds an Australian Financial Services License (AFSL) and is registered with AUSTRAC. CRO and the full suite of Crypto.com products are available to Australian users.
Crypto.com's extensive regulatory portfolio provides CRO with a level of legal clarity that many cryptocurrency tokens lack. However, regulations continue to evolve, and card benefits or token availability may change in response to regulatory requirements.
Crypto.com Compliance
Crypto.com is one of the most actively regulated cryptocurrency companies globally, holding licenses and registrations in numerous jurisdictions. This regulatory compliance benefits CRO by ensuring the platform that drives most of its utility operates within legal frameworks.
Crypto.com holds an EMI license in Europe, is registered with FINTRAC in Canada, and maintains VASP registrations across multiple countries.
FAQs About Cronos (CRO)
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