Introducing more tokens and enhancing Swap-Fee Sharing in DeFi Swap
Through its integration with DeFi Swap, Crypto.com Pay now accepts 17 DeFi tokens and brings additional utility to our DeFi offering. Besides introducing more tokens to Crypto.com, this integration is also a powerful demonstration of Crypto.com’s ecosystem, as it enhances Swap-Fee Sharing benefits for DeFi Swap Liquidity Providers (LPs) with each Pay transaction.
Read on to learn about the benefits for Pay Customers, Pay Merchants, and DeFi Swap LPs.
Crypto.com Pay Customers
Crypto.com Pay customers can now make payments with any of the DeFi tokens listed in DeFi Swap (excluding stablecoins). Available coins include ETH, LINK, CRV, YFI, TRU, FARM, COMP, UNI, WBTC, UMA, SWRV, REN, NEST, HBTC, renBTC, and AAVE, in addition to CRO.
Crypto.com App users simply need to scan the QR code at checkout and select one of the available currencies to instantly complete the payment without paying gas fees.
MetaMask and WalletConnect users who don’t have the Crypto.com App can also make payments by connecting to Crypto.com Pay and selecting the ERC20 token that’s available in their wallet. The system will then automatically swap it to the CRO equivalent* and process the payment.
Users who pay with CRO (whether in the Crypto.com App or another wallet) are entitled to Pay Rewards of up to 10% back, depending on the merchant. Crypto.com Pay processes payments for hundreds of merchants, and is available on major e-commerce platforms, including WooCommerce, Ecwid, OpenCart, NopCommerce, Oveit, and Prestashop.
*Excludes users in China, Singapore, U.S., and others where DeFi Swap is unavailable. See full list here. Users must also pay the necessary gas fees.
Crypto.com Pay Merchants
Pay Merchants in the EU and UK can now enjoy multiple token payment options from customers using wallets besides the Crypto.com App. This means that they can receive instant fiat or cryptocurrency payments from over 30 million ERC20 wallet users globally. They can also enjoy zero transaction fees and only 0.5% payout fees, saving up to 80% compared to traditional payment processors.
Our quick onboarding process makes it easy to sign up and become a Pay Merchant. In addition to accepting payments using our e-commerce checkout solution, merchants can also generate invoices and issue them via email without additional integrations. Learn more about all the Crypto.com Pay features here.
Crypto.com DeFi Swap Liquidity Providers
DeFi Swap Liquidity Providers can now enjoy additional Swap-Fee Sharing benefits, as this integration brings in users for trading and payment purposes.
Find out how to become an LP here.