Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Tezos XTZto its App and is exploring staking rewards ‘baking’ for its users.
XTZ joins a growing list of cryptocurrencies and stablecoins on the Crypto.com platform, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP, TrueUSD (TUSD), PAXOS (PAX), and its own MCO and CRO Tokens.
Tezos is a distributed ledger, making use of blockchain technology to form a blockchain governance by establishing a true digital commonwealth. Tezos established formal verification, a technique which mathematically proves the correctness of the code governing transactions and secure smart contracts.
With XTZ added to the Crypto.com, users can now purchase it at true cost with no fees – credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to XTZ as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.
Tezos is an open-source platform for assets and applications. It is designed to provide the safety and code correctness required for assets and other high-value use cases. Its native smart contract language, Michelson, facilitates formal verification. Formal verification mathematically proves the correctness of the code governing transactions and secure smart contracts. Tezos aims to transfer the decision-making process to stakeholders by giving them voting rights to protocol updates and governing the platform. The On-chain governance allows developers to submit proposals for protocol upgrades, stakeholders will have the right to approve and authorize the protocol updates in the platform.
Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include: the Crypto.com App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 150+ strong team.