Crypto.com and 21.co, the parent company of digital asset manager 21Shares, have announced a new agreement to make it easier for users of 21.co’s Wrapped Bitcoin (21BTC) to buy and sell Bitcoin. The goal of this partnership, which was announced on October 7, is to make 21.co’s exchange-traded products (ETPs) better by using Crypto.com’s trading options.
President and COO of Crypto.com, Eric Anziani, said that this partnership shows how the exchange’s high liquidity can help new businesses like 21.co. Retail and business clients who want to buy and trade in the crypto space will have an easier time with the integration.
The partnership includes Chainlink’s proof of reserve, which makes deals more open and safe for buyers. It also offers liquidity for Bitcoin transactions. Users can safely use their Bitcoin on different blockchain sites with this feature.
With the start of 21BTC on the Ethereum blockchain on September 3, this strategic union fits in with 21.co’s plans to add more wrapped tokens to its collection, which already includes assets like Avalanche, Polkadot, and Solana. The goals of both companies are to make investments easier to get into and to encourage the use of wrapped tokens in decentralized finance (DeFi) apps by increasing liquidity.
We think that the partnership will help the standard banking and DeFi markets offer more new products and work together more easily. With more than 100 million users, Crypto.com will also make 21.co’s goods more visible and easy to access, which will help both businesses in their quest for new ideas in the digital asset sector.
