← Embedded Finance Index 2026

Crypto.com

“Can Crypto.com become the full-stack financial OS for crypto-native consumers globally — combining exchange, payments, BaaS banking, DeFi lending, and a self-chartered trust bank under one app?”

Founded2016
HQSingapore
FoundersBobby Bao, Gary Or, Kris Marszalek
Latest roundAngel (per PitchBook)
IndustryFintech / Crypto
The story

Founded in 2016 as Monaco, a crypto Visa card startup, the company rebranded to Crypto.com in 2018 and built out a full exchange, DeFi wallet, NFT marketplace, and payments infrastructure. After aggressive marketing investments in 2021-2022 (arena naming rights, celebrity endorsements), the company deepened its embedded finance stack, layering in BaaS (Green Dot Arc), DeFi lending (Morpho), and a Stripe partnership for mainstream crypto payments acceptance. The 2025-2026 period marks a decisive regulatory push: applying for and receiving conditional OCC national trust bank charter approval, signaling ambition to operate self-chartered banking infrastructure rather than relying purely on third-party BaaS.

Last 12 months
2025-10
2025-10
2025-10
2026-01
2026-02
2026-04
Product timeline
2016
Founded as Monaco; offered crypto wallet and Visa card rewards program.· card
2018
Rebranded from Monaco to Crypto.com; relaunched as a full crypto exchange and app platform.· pivot
2021
Secured Crypto.com Arena naming rights for $700M; aggressive global marketing expansion including Matt Damon ambassador deal.· pivot
2022
Expanded Crypto.com Capital venture fund to $500M; launched fiat settlement (USD, EUR, AUD) for Crypto.com Pay merchants.· banking
2024
PSD2 live as ASPSP in the UK (FCA-regulated); user base reached 100M+.· banking
2025
Applied for OCC national trust bank charter (October 2025); launched Cash Earn product (5% APY) in the US powered by Green Dot's Arc BaaS platform; integrated Morpho DeFi lending for USDC Earn.· banking
2026
Received conditional OCC approval for Foris Dax National Trust Bank; partnered with Stripe for Crypto.com Pay integration and acquirer services; launched EUR Cash Yield in Europe via Fidelity International money market funds.· banking
Regulated entities
6
regulatory licences held by Crypto.com
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
Same company
Crypto.com was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
Crypto.com (Foris)3 layers →
The stack
6 layers disclosed in Crypto.com’s embedded-finance stack
Payments / PSP
StripeCrypto.com Pay (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Crypto
in the full report
Accounting gap: significant
9 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.