Crypto.com has launched a venture arm and has prepare aside $200 1000000 to invest in promising cryptocurrency startups, as it seeks to expand its partnerships with entrepreneurs in the crypto and blockchain industry.

Announced on March. 4, the new venture arm, named Crypto.com Majuscule, was launched to accelerate the growth of crypto startups, and to advance the growth of the industry in general, according to a press release.

The $200 meg fund will be used to invest in seed rounds for promising startups, with single investments poised to reach anywhere between $100,000 and $3 million. Investments in Serial A funding rounds will reach anywhere from $3 million to $10 million.

Crypto.com (previously Monaco) was founded in 2016 and has since gone on to launch a mobile payments app that grants users as much as a 20% discount when purchasing with the blockchain's native CRO coins. The project also launched a staking program that returns upward to 14% interest and a Visa card that can be filled with crypto or fiat.

Kris Marszalek, co-founder and CEO of Crypto.com, talked up the project's purported 10 million-strong user base, adding that long-term partnerships was its priority.

"Crypto.com Capital gives founders building in the crypto industry two things: a reputable lead investor for their seed or series A rounds AND priority of launch on the world's fastest growing retail crypto platform with over 10 million users," said Marszalek, adding, "We're looking for long term partnerships with entrepreneurs in every sector of the cryptocurrency industry, so nosotros can accelerate information technology together."

Bobby Bao, co-founder of Crypto.com, and leader of the new Crypto.com Capital fly said the venture arm would provide startups with direct admission to its global user base of operations, in improver to early funding. Bao said:

"The motto and operating principle of Crypto.com Majuscule is 'Founders First.' Equally 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 uppercase and admission to a global user base, helping them succeed."

In early March, Crypto.com became a sponsor of the Aston Martin Formula 1 racing team. The project's logo will appear on the squad's cars during the 2021–2022 race season.