Crypto.com has spent well over $1 billion on marketing efforts in the United States as the exchange has looked to plant itself in the minds of American crypto enthusiasts.
Following a year of rapid ad buys and marketing efforts, the exchange is finally ready to bring its services to the world’s biggest crypto and most liquid market for cryptocurrencies.
Ready For The Big Pond
In the middle of March, Crypto.com announced that it would roll out its exchange platform in the United States. The company's official announcement explained that the platform is now available to customers who have signed up on its waitlist, and more users are expected to get access to it soon.
Crypto.com is based in Singapore. The exchange has primarily been in the shadow of other big names in the industry. Its owners firmly believe that establishing a foothold in the United States will give the exchange more leverage to operate.
As it stands, the platform is only available to some institutional investors. However, Crypto.com expects to offer its services to more interested investors who would like to use it to trade cryptocurrencies. The exchange has also invited American institutional investors to join its waitlist and sign up to use the platform.
Besides access to the exchange, Crypto.com also said in its announcement that it would grant access to various events to its VIP users and exclusive rewards and market insights. These events and forums are expected to improve market awareness among these investors - and, most importantly, build Crypto.com's foothold in the industry. Kris Marszalek, the chief executive of Crypto.com, expressed his excitement over the launch in the announcement.
"We are excited to be expanding our offering for professional traders to the U.S. Crypto.com Exchange will support U.S. institutional investors through this initial launch phase. We are looking forward to rolling it out to everyone as soon as possible."
Big Budget Spending On Ads
As explained earlier, the launch brings a culmination to Crypto.com's awareness effort, which has been rampant. The exchange first made a huge splash in November when it announced that it had gotten the exclusive naming rights to the famous Staples Center.
The iconic location, which is one of the most popular in the United States, has now been named the "Crypto.com Arena" after the exchange paid a staggering $700 million for naming rights over the next 20 years.
Crypto.com has since gone on to leverage its use of the Crypto.com Arena. The exchange launched a non-fungible token (NFT) drop with basketball superstar LeBron James, whose Los Angeles Lakers also play at the arena. The "Moment of Truth" drop was given to 5,500 winners as part of Crypto.com's Super Bowl ad spree. And, Crypto.com also has an ad running with Academy Award winner Matt Damon.
Elsewhere, the exchange has inked sponsorship deals with the Australian Football League, Formula 1, and the Ultimate Fighting Championship.
Keeping The Ball Rolling
The ad spree isn't stopping, from the looks of it. Crypto.com has partnered with the International Community of the Red Cross for a campaign that will focus on the conflict in Ukraine. The ad campaign aired at the Academy Awards on Sunday, and with Crypto.com already allowing donations to support Ukraine, it hopes to reach more people and spur more action to top the month-long conflict.
Besides that, Crypto.com has also signed on to be an official sponsor of the 2022 World Cup in Qatar. FIFA, the international body that governs all soccer activities and competitions, has confirmed that Crypto.com's branding will appear in and out of stadiums at the showpiece event, which kicks off in November. Crypto.com will also provide opportunities for some of its users to attend World Cup matches and win merchandise as part of the event.
The Word Cup partnership is rather interesting. Cryptocurrency trading has been largely illegal in Qatar for years now, and Qatar remains one of the only Middle Eastern regions to maintain a relatively anti-crypto stance. Nevertheless, the World Cup needs sponsors, and Crypto.com is sure to get a great deal of exposure by attaching its name to one of the biggest events in the world.
For a glimpse of how much of a big deal this is, FIFA reported that over 3.5 billion people watched the 2018 World Cup Final between France and Croatia. This is more than 20 times the Super Bowl and the NBA Finals' total viewership. In terms of sheer reach, the World Cup partnership would be the biggest yet for Crypto.com.