Crypto.com Partners With MyPrize to Expand Prediction Market Services

Singapore-based fintech platform Crypto.com has announced a strategic partnership to bring prediction market services to online crypto casino MyPrize’s social gaming network.

According to a Nov. 4 press release from Crypto.com, the deal will bridge “a first of its kind product allowing users to access social gaming and prediction markets for the first time in one unified platform.”

The partnership will focus on combining use cases for social gaming functions such as livestreaming with prediction market systems allowing users to trade against their predictions on outcomes related to sports, politics, and cryptocurrency.

Crypto.com Seizes Growth Opportunities

The predictions market surged as of late on interest from both cryptocurrency native businesses and a seemingly endless supply of outsider firms looking to partner their way in.

Crypto.com has been among the companies leading the charge. As Coinspeaker reported on Nov. 3, it announced a partnership with entertainment industry news website Hollywood.com to bring predictions market services focused on movies, music, and television events.

It also unveiled its new Level Up rewards system featuring subscription tiers and zero trading fees alongside a partnership with sports gaming platform Underdog, on Sept. 3, to integrate prediction markets into fantasy sports.

Much of the recent movement from Crypto.com appears to be spurred on by the firm’s recent slate of regulatory filings and approvals. It filed a National Trust Bank Charter application on Oct. 24 with the US Treasury’s Office of the Comptroller of the Currency (OCC).

Prior to that, on Sept. 30, the firm claimed to be the first major crypto company awarded a “full stack” of derivatives trading licenses from the US Commodity Futures Trading Commission (CFTC) including FCM (Futures Commission Merchant), DCM (Designated Contract Market), and DCO (Derivatives Clearing Organization) licenses.

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