Crypto.com, a Singapore-based crypto exchange operating globally, has unveiled plans to file for Cronos ETF and launch a proprietary stablecoin.
As part of its roadmap for 2025, Crypto.com is planning to file for the launch of an ETF centered around its native token Cronos (CRO). The company plans to file for the ETF in the fourth quarter of the year, although further details on the filing process are yet to be disclosed.
To put this upcoming development into perspective, Crypto.com is just one of many companies vying for the launch of crypto ETFs. Several asset managers have recently filed applications with regulators to launch ETFs targeting Solana (SOL) and Ripple (XRP). Additionally, Grayscale Investments has launched a Dogecoin Trust while Tuttle Capital Management has filed to launch 10 2x-leveraged ETFs.
Apart from CRO ETF launch, another much-anticipated milestone for Crypto.com in 2025 is the launch of its own stablecoin in the third quarter. However, details regarding the stablecoin’s underlying fiat currency and other specifics remain uncertain at this time.
Beyond CRO ETF and stablecoin launch, the Singapore-based crypto exchange is also broadening its scope of financial services. The exchange also intends to list stocks and stock options in the first quarter of 2025, extending its offerings beyond crypto. It’s also working on introducing new banking features, including personal multicurrency accounts and cash savings accounts.
Crypto.com’s expansion is not limited to its service offerings. The company is also focusing on increasing its regulatory compliance. Just over a week ago on Jan. 27, Crypto.com’s Malta division obtained the first-ever MiCA license from the Malta Financial Services Authority.
While Crypto.com’s ambitious plans are drawing attention, the CRO token has been in bearish territory, with its price down nearly 37% over the past month, according to Coinmarkecap. As of now, CRO is trading at approximately $0.10, showing a slight intraday loss of 3.25%.
