Crypto exchanges are increasingly exploring new financial products and restructuring strategies to adapt to the evolving market landscape. Crypto.com has outlined an ambitious 2025 roadmap that includes launching an ETF for its native token, Cronos (CRO), alongside new banking features and a stablecoin. Meanwhile, WazirX is navigating the aftermath of a $235 million hack, urging creditors to approve its restructuring plan to expedite repayments.
Crypto.com Eyes ETF for Cronos (CRO) as Part of Its 2025 Roadmap
Crypto.com is setting its sights on launching an exchange-traded fund (ETF) for its native token, Cronos (CRO), marking another step toward the institutionalization of digital assets. As part of its ambitious 2025 roadmap, the Singapore-based exchange has prioritized filing for the ETF in the fourth quarter of the year. While the specifics remain undisclosed, the move reflects a broader trend of increasing institutional interest in crypto-based financial products.
Crypto.com’s roadmap extends beyond the ETF, with the exchange planning to introduce a range of new financial services in 2025. In the first quarter, the platform aims to list stocks, stock options, and ETFs, effectively broadening its scope beyond cryptocurrencies. Additionally, new banking features are in the pipeline, including personal multicurrency accounts and cash savings accounts, further positioning Crypto.com as a comprehensive financial services provider.
One of the most ambitious targets for the year is the launch of a proprietary stablecoin, scheduled for the third quarter. While details on the stablecoin’s structure and fiat backing remain unclear, the introduction of a Crypto.com-backed digital asset signals a move toward greater financial integration within the platform’s ecosystem.
A Crypto.com spokesperson highlighted that the new offerings align with the company’s broader mission of “[enhancing] all aspects of user experience” by providing a wider range of financial investment services. The exchange has already executed five out of six planned products in its Q1 roadmap, alongside the early launch of its institutional custody services.
Crypto.com has been aggressively expanding its regulatory footprint. The company recently secured a full European Union license under the Markets in Crypto-Assets Regulation (MiCA) framework, reinforcing its global operational legitimacy. However, it remains uncertain where the company plans to file its ETF or in which fiat currency its stablecoin will be denominated.
Crypto.com’s ETF plans align with a broader industry shift toward institutional-grade digital asset investment products. The successful launch of spot Bitcoin ETFs in the United States in early 2024 fueled unprecedented capital inflows into the crypto market. By the end of 2024, Bitcoin ETFs had amassed over $100 billion in net assets, with January alone seeing $4.94 billion in new inflows.
Following Bitcoin’s ETF success, Ethereum (ETH) ETFs also gained traction, attracting billions in institutional investments by November and December. The landscape for crypto ETFs continues to evolve, with expectations of increased regulatory approvals under a more crypto-friendly US administration and a potential shift in Securities and Exchange Commission (SEC) leadership.
Crypto ETFs Set to Proliferate in 2025
Crypto.com’s move toward an ETF for Cronos follows a broader industry trend where asset managers are doubling down on crypto investment products. Firms such as VanEck, Grayscale, 21Shares, Bitwise, and Canary Capital have all submitted applications for Solana (SOL) ETFs, aiming to provide institutional investors with exposure to the fifth-largest cryptocurrency.
Additionally, VanEck is pursuing an ETF focused on the “Onchain Economy,” targeting investments in digital asset companies, including miners, exchanges, and blockchain software developers. These developments indicate that traditional financial institutions increasingly recognize the long-term value proposition of crypto-based financial products.
Crypto.com’s strategy to integrate traditional financial services with digital assets suggests a long-term vision of bridging the gap between conventional banking and crypto. By rolling out stock trading, banking solutions, a stablecoin, and an ETF within the same year, the company is positioning itself as a major player in the evolving financial ecosystem.
As regulatory landscapes continue to shift, Crypto.com’s ability to navigate compliance challenges and secure approvals for its planned products will be critical to its success. Whether its Cronos ETF can achieve the same level of institutional adoption as Bitcoin and Ethereum remains to be seen, but the move signals a clear push toward legitimizing digital assets in traditional markets.
If successful, Crypto.com’s 2025 roadmap could serve as a blueprint for other exchanges looking to merge digital and traditional finance, further accelerating the institutionalization of crypto assets.
WazirX Warns of Potential Delays in $235M Hack Repayments, Creditors Face Critical Vote
Meanwhile, Indian cryptocurrency exchange WazirX has issued a stark warning to creditors affected by its massive $235 million hack, stating that repayments could be delayed until 2030 if its proposed restructuring plan is not approved. The exchange has laid out two possible outcomes for creditors, urging them to vote in favor of its proposed plan to expedite recovery efforts.
On Feb. 4, WazirX released an official statement outlining its restructuring strategy, emphasizing that if creditors approve the plan, the company could begin repayments as early as April 2025. The plan includes a relaunch of the platform, the introduction of a decentralized exchange business, and the distribution of recovered funds through profit sharing.
However, if creditors reject the restructuring scheme, WazirX cautioned that the timeline for repayment could be extended by up to five years, leaving affected users in a prolonged state of uncertainty. The exchange stressed that without an agreed-upon strategy, asset recovery would depend on the resolution of an ongoing ownership dispute, which could further complicate the process.
In its statement, WazirX warned users that if liquidation occurs before the ownership dispute is settled, the value of recovered assets could be significantly lower due to associated liquidation costs. Additionally, repayments would likely be distributed in fiat, rather than crypto, meaning users would miss out on potential price increases that could occur in a bull market.
“As fiat is distributed, market price-driven upside following distributions is unlikely,” WazirX noted, further cautioning that creditors could miss out on “near-term bull runs” due to the lengthy legal and financial processes involved in liquidation.
High Court of Singapore’s Approval for Restructuring
The WazirX restructuring proposal has already received the green light from the High Court of Singapore, which ruled in favor of restructuring over liquidation. The court emphasized that a structured approach to repayment would provide a faster and more favorable outcome for affected users.
Under the restructuring plan, WazirX estimates that users may recover up to 80% of their lost balances. The repayment plan includes the issuance of recovery tokens, which will represent user claims and provide access to a portion of recovered assets and future platform profits.
A voting process is set to take place over the next three months, where creditors will decide whether to move forward with WazirX’s proposal. If the majority votes in favor, the exchange plans to distribute net liquid assets within 10 days of the final decision.
The WazirX hack is one of the largest security breaches to hit the crypto industry in recent years, highlighting ongoing concerns over exchange security and asset protection. While WazirX’s restructuring plan offers a structured pathway for creditors to recover funds, the potential for long-term delays underscores the risks associated with centralized exchanges.
With the Singapore High Court’s approval, WazirX is now looking to creditors to determine the next steps. If the plan is rejected, users may have to wait until 2030 to see any repayments, leaving them vulnerable to market volatility and legal uncertainty.
As the vote approaches, all eyes will be on how WazirX navigates this crucial period. Whether it can regain user trust and execute its proposed recovery plan remains to be seen, but for now, the exchange’s future—and the fate of its creditors—hangs in the balance.
