AS WITH many current successful entrepreneurs, Kris Marszalek’s background is not in technology or traditional finance.
So, what is the story behind the Crypto.com founder, and what is his net worth?
Who is Kris Marszalek?
Kris Marszalek is the founder and CEO of Crypto.com and is regarded as one of the youngest crypto-entrepreneurs in the world.
He first started his vocational career in 2004 as the founder and a senior executive at Starline Polska. He then became the CEO of various organizations in Hong Kong.
Marszalek co-founded Yiyi, a Hong-Kong based mobile app, and Beecrazy, an e-commerce company. He served as the chief operating officer of Beecrazy, which was acquired by iBuy Group that later rebranded to Ensogo.
In 2016, Marszalek founded Monaco with the aim of making digital money more accessible to everyone. The firm’s first product, a wallet, was launched at the end of 2017 and enables users to buy, store, and exchange cryptocurrencies.
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He said: “It’s your basic human right to control your money, data, and identity.”
The company also introduced the “first-ever card” that allowed customers to spend their crypto holdings in real time at over 40 million merchants worldwide. That led to the company rebranding as Crypto.com, coinciding with the transition to a subscription-based business model. The company now offers crypto-based financial services, including a crypto savings account and credit card.
In 2020, Crypto.com became a popular player in the crypto space. It started the year by announcing several integrations, such as with Ecwid, Travala.com, and Ledger. It also started expanding its offerings by launching its flagship debit card, backed by crypto. The company began to acquire licenses in various countries, such as Australia, Canada, and Malta. According to Marszalek, he hopes to bring the card to other countries.
By October 2020, the number of users on the platform reached five million and by the end of 2021 that figure had doubled to over 10 million users.
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With 3,000 employees, operating in 90 countries. It is expected that Marszalek will reach its next goal of 150 million users in five years.
The company has participated in various advertising campaigns and sponsored a number of major sports events in order to boost its profile.
Crypto.com signed a multi-year deal with the LA Staples Center to rebrand the venue as Crypto.com Arena in November 2021. The venue is home to the NBA’s Lakers, the Sparks, the Kings, and other professional sports teams such as the Sparks and the Los Angeles Kings. In the US, it is regarded as the second-largest sports arena after the Madison Square Garden of New York City.
“In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Marszalek said at the time.
“We dedicate this one to everyone who worked tirelessly over the years to bring crypto into the mainstream. You know who you are.”
He added that “the next decade belongs to crypto” and he hopes to make Crypto.com a “top-20 brand in the next three or five years, alongside names like Nike or Apple”.
The company paid around $700million to the Staples Center owner, an LA-based professional sports organisation, for the rights to use the Crypto.com name for the next two decades.
In 2021, Marszalek also signed a $100million deal with Formula 1, which allowed the company to promote its brand during the racing event. The agreement also allowed the company to support the development of non-fungible tokens (NFTs).
Crypto.com is also one of the few profitable crypto companies. It has more than $50million in annual revenues and has a net profit of $10million.
What nationality is Kris Marszalek?
Kris Marszalek was born in Poland. It was there that he founded his first company, Starline Polska in 2004.
While based in Poland, the company also opened offices in Hong Kong, facilitating Marszalek’s move abroad.
What age is Kris Marszalek?
Kris Marszalek was born on May 10, 1975. He is 45 years old.
What is the net worth of Kris Marszalek?
The net worth of Kris Marszalek is estimated at $700million.
The majority of Marszalek’s wealth is derived from his ownership of Crypto.com. However, he also has stakes in several other companies, including Bitcoin Wallet, which Crypto.com acquired in 2018.
