Cronos Launches 'Ult' Trading App and Announces Strategic Shift to Boost CRO Value
Cronos, a blockchain ecosystem linked with Crypto.com, has rebranded its trading app as Ult. The new platform will support prediction markets, tokenized assets, and perpetuals, aiming for global availability across more than 100 countries by launch on September 17. The company is overhauling its strategy to focus value generation around the CRO token. A key component involves channeling all revenue from Ult and a new product called Cronos Launch into buying back and burning CRO tokens, aiming to enhance their scarcity and utility. This shift includes shutting down other projects within the ecosystem. Cronos is also working on integrating developers more closely with its infrastructure by offering EVM compatibility, 24/7 settlement capabilities, USDC support, and direct integration with Crypto.com for token listings.
Topics: blockchain CRO tokenomics crypto trading app rebranding