Even After Staples Center Renaming, Crypto.com Isn't Done With Marketing Campaign

Crypto.com will undoubtedly emerge as one of the biggest winners of 2021's crypto year. The exchange and derivatives trading platform worked silently to build its business, harnessing expert marketing as it continued to grow across all areas.

Even After Staples Center Renaming, Crypto.com Isn't Done With Marketing Campaign

Even after its landmark deal to rename the iconic Staples Center in downtown Los Angeles, Crypto.com isn't slowing down when it comes to touting its name.

Partnering With the Angels

Before Christmas, Crypto.com announced it had inked a partnership deal with the Angel City Football Club. The Los Angeles-based team is a planned expansion in the National Women's Soccer League, expected to activate in 2022.

Crypto.com explained that the brand partnership deal meets its objective of expanding knowledge surrounding cryptocurrencies, blockchain technology, and Web3 to Los Angeles residents.

The exchange added it will keep looking for "unique and impactful ways" to make strategic investments in Los Angeles. It hopes to usher in a new trend of financial education and independence - particularly for women.

"We are excited to work with [Crypto.com] to educate our community and players on crypto and allow our players to use the power of NFTs to connect with and create a deeper relationship with their fans," said Julie Uhrman, co-founder and president of the Angel City Football Club.

The partnership is definitely an interesting one. Crypto brands have poured hundreds of millions into celebrity endorsements and partnerships this year, but gestures to female soccer teams are rare. Most endorsements have gone to the NBA and NFL.

Of course, this isn't the marquee signing for Crypto.com. That will be the Staples Center renaming, which has now gone live. For the next two decades, the iconic shopping and entertainment location will be called the "Crypto.com Arena," after the exchange paid $700 million for naming rights.

Crypto.com is Building Its Business Well

While Crypto.com is making headlines for its marketing campaigns, it's worth noting that the company has been doing a relatively good job of shoring up its business. With smart acquisitions, the company appears to be gearing up for a major push in 2022.

In November, Crypto.com partnered with Silvergate - a California-based crypto banking institution - to allow institutional clients to make deposits and withdrawals from its exchange using the dollar.

According to both partners, bank transfers to and from Crypto.com will now be available to institutional investors.

Using Silvergate, institutions will be able to directly transfer dollars between their bank accounts and the accounts they hold with Crypto.com. The transfers will be free and enabled by the Silvergate Exchange Network - a payments platform that allows users to send dollars whenever they want.

While the industry was still reeling from that announcement, Crypto.com made an even bigger splash. To kick off December, the exchange acquired North American Derivatives Exchange (Nadex) and the Small Exchange - two U.S.-regulated exchange services - for a reported $216 million.

Nadex and the Small Exchange are both based in Chicago. The former is known for derivatives offerings to retail investors, while the latter specializes in futures trading services. By acquiring both, Crypto.com hopes to offer traditional investment opportunities to American investors as well.

Kris Marszalek, Crypto.com's co-founder, explained to reporters that the company hopes to offer customers a trusted, regulated, and secure trading platform, thus allowing them to be more financially independent.

Nadex appears to have been the primary interest for Crypto.com. The exchange is regulated by the Commodity Futures Trading Commission (CFTC) and offers services like cal spreads, binary options trading, and Touch Bracket contracts, among many others.

As for the Small Exchange, its attractive offerings include smaller, capital-efficient futures products that are better suited to retail investors' needs.

Crypto.com's work to expand its business has not gone unnoticed. In 2022, the company will be gunning for spots held by industry giants like Coinbase and FTX.

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