- 21.co and Crypto.com have announced a strategic partnership.
- 21.co said the tie-up would bolster its wrapped Bitcoin offering.
- The two companies aim to enhance access to wrapped tokens with โbestโ management practices.
21Sharesโ parent company 21.co has forged a strategic partnership with Crypto.com to enhance the liquidity and custody of its wrapped tokens, including the 21.co Wrapped Bitcoin (21BTC).
Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21.co provides crypto exchange-traded products (ETPs) via its 21Shares affiliate and blockchain infrastructure technology. The companyโs products are built on Onyx, its proprietary operating system that also serves third parties.
21.coโs Partnership with Crypto.com
According to a press release dated October 7, the partnership will see 21.co leverage Crypto.comโs deep liquidity, competitive fees, and advanced matching engine to source Bitcoin liquidity for its 21BTC product.
Sponsored
Other 21.co wrapped tokens likely to benefit from the partnership, pending โfuture announcements in the pipeline,โ include the 21.co Wrapped Solana (21SOL), 21.co Wrapped BNB (21BNB), 21.co Wrapped Bitcoin Cash (21BCH), and 21.co Wrapped Cardano (21ADA).
Eliezer Ndinga, the Head of Strategy and Business Development of Digital Assets at 21.co lauded the partnership, noting that it would bring asset management best practices and operational excellence to the realm of wrapped tokens.
โWe are thrilled to integrate 21BTC with Crypto.com, enhancing user access to crypto and marking the starting point of a long-term, strategic partnership. As two leaders in digital asset innovation, know-how and operations, the 21.coโCrypto.com partnership creates a powerful combination.โ Ndinga stated.
Per the statement, 21.co wrapped tokens are unavailable in certain jurisdictions, such as the U.S., underscoring how crypto companies face regulatory hurdles when scaling innovation. The companies reiterated that users in the U.S. wonโt be allowed to mint or burn these tokens.
Read about Crypto.comโs recent regulatory win in Ireland:
Crypto.com Secures VASP Registration Approval in Ireland
Read why the Ripple vs. SEC legal battle could extend to 2027:
Ripple vs SEC Legal Battle Could Extend to 2027โHereโs Why
