Cronos rebrands trading app as Ult, targets global iOS and Android launch on September 17
AI Market Summary
Cronos is rebranding its trading app to Ult with a Sept. 17 global launch and expanded features (prediction markets, perps, tokenized stocks). Cronos Labs proposes routing 100% of revenue from Ult and Cronos Launch to open-market CRO buybacks and burns, with costs covered by existing capital, reinforcing a deflationary tokenomics link. The plan also sunsets other projects, concentrating liquidity, users, and development around CRO-centric products.
Impact level
● Medium
Affected assets
CRO/USDT-7.91%
AI Insight · CRO/USDTAI Insight
▲ Bullish
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Cronos, the blockchain ecosystem associated with Crypto.com, is renaming its trading app to Ult and plans a global iOS and Android rollout on September 17, expanding into prediction markets, perpetuals and tokenized assets. CEO Ryan Wyatt said the shift is meant to give users and developers clearer direction and put greater emphasis on products that create value for CRO. Cronos Labs has proposed using 100% of revenue from Ult and Cronos Launch to buy CRO on the open market and burn it, while funding operating and growth costs from existing capital.
