Crypto.com Partners With NEXON as CRO ETF Is Now One Step Closer

Crypto.com, a global multi-product cryptocurrency ecosystem and Web3 conglomerate, has scored a massive partnership in the GameFi segment. Also, asset management firm Canary Capital has submitted form S-1 required to launch an exchange-traded product based on CRO.

Crypto.com taps NEXON's NEXPACE as its latest partner

According to the official statement by its team, Crypto.com, one of the largest and most influential cryptocurrency ecosystems in the world, has inked a Memorandum of Understanding (MoU) with NEXPACE, the Web3 and blockchain subsidiary of global gaming company NEXON

The agreement outlines a strategic partnership to integrate Crypto.com Pay, Crypto.com’s checkout solution, into NEXPACE’s expansive gaming ecosystem.

The integration will allow players to make seamless, secure payments using cryptocurrencies across NEXPACE’s current and upcoming games and digital marketplaces.

Alongside the integration, the partnership will also explore opportunities to transform the future of digital gaming and marketing, such as customer rewards programs, NFT strategies, co-marketing campaigns and the co-development of new blockchain-based experiences.

Eric Anziani, President and COO at Crypto.com, highlights the importance of the collaboration for both teams and payments in GameFi as a whole:

We are thrilled to partner with a forward-thinking innovator like NEXPACE that shares our vision of the power of digital payments. Integrating Crypto.com Pay into NEXPACE’s ecosystem represents a major milestone in providing seamless payment infrastructure to the next generation of gamers.

The MoU reflects the growing convergence between Web3 gaming ecosystems and real-world payment infrastructure. By combining Crypto.com’s crypto-native payment solution with NEXPACE’s blockchain-powered marketplaces, they will explore new ways to further enhance accessibility, reduce friction and drive innovation across blockchain-powered entertainment platforms.

NEXPACE contributors hope to further reduce friction in blockchain gaming and continue driving efforts in enhancing the overall gaming experience for users worldwide.

As the Web3 arm of Nexon, NEXPACE leads the company’s Web3 strategy and is responsible for its recently launched blockchain-powered ecosystem: MapleStory Universe. Nexon is one of South Korea’s largest and most influential gaming companies, known for developing globally popular titles like MapleStory, Dungeon & Fighter and KartRider, currently operating over 100 live games across 190 countries.

Canary Capital applies for CRO Spot ETF approval

Alongside that, Canary Capital, a digital asset-focused investment firm, has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission for the first-ever spot CRO ETF in the U.S.

The proposed publicly available fund aims to provide U.S. investors with direct exposure to the price of CRO, the native token of the Cronos network. Crypto.com will serve as a custodian and liquidity provider of the fund.

As per the COO's statement, Crypto.com team is tremendously excited to see this important step being taken in building toward all investors in the U.S. having the opportunity to engage with CRO through an ETF with Canary Capital.

This milestone follows Canary Capital and Crypto.com’s recently announced partnership to establish the Canary CRO Trust, the first private investment vehicle of CRO for U.S. accredited investors.