Crypto.com has launched a $200 million fund for crypto startups, according to an announcement from the company.
Crypto.com to date has offered an exchange and wallet, plus crypto cards and loans products. Now, the firm is expanding its horizons: after passing 10 million users, the company is looking for long-term partnerships with crypto entrepreneurs and businesses.
That means Crypto.com will fund new cryptocurrency startups. It will issue cheques for seed rounds ranging from $100,000 to $3 million, and it will lead series A rounds ranging from $3 million to $10 million.
Bobby Bao, co-founder, said: “The motto and operating principle of Crypto.com Capital is ‘Founders First.’ As company builders ourselves, we understand how hard it is to bring game-changing ideas to life. Founders can count on us to move fast and provide both capital and access to a global user base, helping them succeed.”
Crypto.com has gained significant traction in the past year—expanding its user base across the world and even bagging a contract to sponsor Aston Martin’s Formula One team.
Disclosures: Crypto.com is a sponsor of Crypto Briefing. This article was written independently from that relationship. The author held BTC, ETH at the time of press.