Crypto.com has made an announcement regarding its support for the rebranding of the Kaia ($KLAY) token to Kaia ($KAIA). As a result, the platform will be delisting $KLAY from both the Crypto.com App and Exchange. Starting from October 28, 2024, trading, deposits, and withdrawals of $KLAY will be permanently suspended.
To align with the token reissue, a 1:1 token swap of $KLAY to $KAIA will take place, and users will not need to take any action. Crypto.com has shared the details of the rebranding with its community through its official X account, providing insights into the upcoming strategies related to this rebranding.
The delisting will occur at 01:00 UTC on the Crypto.com App and 02:00 UTC on the Crypto.com Exchange. Users who hold $KLAY will have their tokens automatically converted to $KAIA at a 1:1 ratio. This conversion will be reflected in their Crypto Wallet and Spot Wallet balances upon completion of the migration, ensuring a seamless transition for users.
Importantly, certain features such as $KLAY Target Price, TWAP, and Recurring Buy orders will be terminated. Additionally, after the delisting date, KLAY will no longer be available for card top-ups, including Auto Top-Up. It is advised for users to take note of these changes in advance.
At the Crypto.com Exchange, $KLAY spot trading and trading bots will be permanently suspended. Users are advised to terminate any active $KLAY trading bots by October 28, 02:00 UTC, to avoid any disruptions in trading. Crypto.com will make a separate announcement regarding the re-enabling of deposits and withdrawals for $KAIA.
Furthermore, the migration of $KLAY to $KAIA is expected to happen at a later date. Crypto.com has assured users that another announcement will be made to confirm when trading, deposits, and withdrawals for the new $KAIA tokens will be live.