21.co, the parent company of 21Shares, has announced a strategic partnership with Crypto.com.

Enhancing Liquidity and Custody Solutions

The collaboration aims to enhance liquidity and custody solutions for 21.co’s wrapped tokens, starting with its wrapped Bitcoin (BTC). Wrapped tokens like 21BTC allow users to utilize Bitcoin on other blockchains, such as Ethereum, by “wrapping” the original asset in a smart contract. This enables users to benefit from Bitcoin’s value while also interacting with decentralized finance (DeFi) applications. DeFi is a system of financial services built on blockchain technology, offering alternatives to traditional financial services without intermediaries like banks.

Partnership Details

This partnership will enable 21.co to leverage Crypto.com’s vast liquidity pool, meaning the exchange will help provide Bitcoin to back 21BTC tokens. Crypto.com will also offer competitive fees and advanced trading technology, improving the efficiency of 21.co’s wrapped Bitcoin product.

Eliezer Ndinga, Head of Strategy at 21.co, emphasized the significance of integrating 21BTC with Crypto.com, citing it as a crucial step in enhancing crypto accessibility for users.

“Crypto.com is one of the world’s largest digital assets exchanges serving over 100 million users globally. As one of the world’s largest issuers of crypto ETPs, 21.co brings asset management best practices and operational excellence to the world of wrapped assets.”

To better serve both retail and institutional customers with liquidity solutions, Crypto.com has entered into a partnership with 21.co, one of the world’s largest issuers of crypto ETPs. This marks a significant step towards the goal of putting crypto in every wallet.

The companies plan to expand their partnership in the future, though specific details have yet to be announced. As demand for crypto products grows, partnerships like this aim to streamline access and improve liquidity for both retail and institutional traders globally.

For more updates and news on the cryptocurrency market, stay tuned to Global Crypto News.

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