Key Takeaways:
- Crypto.com and 21.co (parent of 21Shares) partnered to enhance Bitcoin liquidity for Ethereum and Solana ecosystems.
- The partnership focuses on expanding liquidity for 21BTC users, benefiting retail and institutional clients across multiple blockchains.
- 21BTC integrates Chainlink’s proof of reserve for transparency, though wrapped tokens are unavailable in certain regions like the U.S.
Crypto.com has partnered with 21.co, the parent company of 21Shares, to enhance Bitcoin liquidity for users of 21BTC, particularly benefiting both retail and institutional clients.
Announced on October 7, this collaboration will initially focus on expanding liquidity across the Ethereum and Solana ecosystems, helping clients put their Bitcoin to work on these networks.
To better serve retail and institutional customers with liquidity solutions, https://t.co/vCNztATSCO has entered into a partnership with @21co__ (one of the world’s largest issuers of crypto ETPs).
— Crypto.com (@cryptocom) October 7, 2024
This marks the latest step towards our goal of putting crypto in every wallet,… pic.twitter.com/eDAeFQdeac
Crypto.com, known for strong liquidity in BTC/USD and BTC/USDT pairs, will leverage this strength to support 21.co’s exchange-traded products (ETPs), beginning with 21BTC.
The partnership also emphasizes transparency, with 21BTC using Chainlink’s proof of reserve mechanism.
Despite these advantages, the wrapped tokens, including 21BTC, are not available in certain regions such as the U.S.21.co has also expanded its wrapped token offerings, launching 21BTC on Ethereum in September and including assets like Avalanche (AVAX), Polkadot (DOT), and Solana (SOL) in its portfolio.
We’re excited to announce a new strategic partnership with @cryptocom to enhance the liquidity and accessibility of 21BTC, enabling users to put their idle Bitcoin to work across multiple chains.
— 21.co (@21co__) October 7, 2024
“We are thrilled to integrate 21BTC with https://t.co/Oavs5Ti3Ip, enhancing user… pic.twitter.com/dkySZr9IqI
User protections are provided through cold storage and regulated third-party custodians.
Future collaborations between Crypto.com and 21.co are anticipated.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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