Crypto.com has listed Kava as a supported currency onto its platform. In doing so, the team brings this popular DeFi asset to its Visa debit card. As one of the few 2017 ICOs to deliver on the initial promise, Crypto.com is becoming a significant player in the cryptocurrency space.
Kava Arrives On Crypto.com
Formerly known as Monaco Card, Crypto.com is carving out its position among the top cryptocurrencies by market cap. To make its platform more appealing, the team will regularly enable support for alternative crypto assets. In this instance, the team opts for KAVA, the native asset of Kava, a hidden gem in the ever-competitive DeFi space.
Contrary to other protocols in the decentralized finance world, Kava is the most trusted DeFi platform by financial institutions on the market. Its suite of products and services are tailored to the crypto world, allowing for a frictionless and decentralized approach. Users can lend, invest, and earn with crypto on the platform directly or through the many companies who have integrated Kava’s technology – including Binance and Huobi.
As a result, it will become possible to purchase KAVA through the Crypto.com app via a credit card or other fiat onramps. No longer will users have to rely on an exchange to convert to KAVA. Introducing more fiat gateways ensures everyone has equal access to the existing assets populating the DeFi landscape today.
Through this integration, it is now possible to acquire KAVA through over 20 fiat options and more than 90 crypto options. As Crypto.com’s Visa network is connected to over 50 million merchants worldwide, cardholders can spend KAVA in nearly any location worldwide. This integration brings unprecedented access to this DeFi asset to users all over the world. More importantly, the mobile applications for iOS and Android will support KAVA as well.
As Crypto.com serves as a leading provider of Visa card services related to cryptocurrencies, having their support can push KAVA adoption to new heights. Ever since WaveCrest had a falling out with Visa over its cryptocurrency-related services, few providers of such cards remain. Crypto.com has an official working relationship with Visa, allowing them to provide their card services across Canada, the EU, UK, the USA, and other regions.
Why This Matters Now
As a hidden gem among DeFi projects, Kava’s integration into Crypto.com comes at an intriguing time. As the Kava team recently released version 5 of their DeFi protocol – and upgraded the HARD Protocol to Version 2 – a lot of new functionality and improvements have been added. Showcasing these features to a much broader audience will highlight what the Kava developers have been working on and why cross-chain DeFi support is necessary.
Considering how the Crypto.com app is one of the top mobile apps in the finance segment on both iOS and Android, it has a lot of appeal to people inside and outside of the cryptocurrency industry. When such a platform launches KAVA, mainstream awareness for this asset can pick up significantly.
Furthermore, Crypto.com becomes a compelling place to purchase KAVA. It operates a 0% fee structure and does not charge any markup on purchases. Purchasing KAVA at true cost – through either credit card or bank transfer payments – allows users to diversify their cryptocurrency portfolio with ease.