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CDS Crypto News Crypto Com and 21Co- Crypto com Partners with 21.co to Enhance Bitcoin Liquidity

Crypto News Collaboration

Crypto Com and 21Co- Crypto com Partners with 21.co to Enhance Bitcoin Liquidity

sevval07/10/20241 Mins read329

Crypto Com And 21Co- Crypto Com Partners With 21.Co To Enhance Bitcoin Liquidity

Crypto Com and 21Co- New Strategic Partnership: Crypto.com and 21.co Boost Bitcoin Services

Crypto Com and 21Co- Crypto exchange Crypto.com has teamed up with 21.co, the parent company of cryptocurrency asset manager 21Shares, to enhance Bitcoin liquidity for customers using Wrapped Bitcoin (21BTC).

On October 7, the two companies announced their strategic partnership aimed at improving the offerings of 21.co’s crypto exchange-traded products (ETPs), beginning with 21BTC.

21.co is primarily recognized for its subsidiary, 21Shares, which creates cryptocurrency exchange-traded funds (ETFs) like the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF. Crypto.com will assist in meeting the Bitcoin liquidity needs of 21.co’s retail and institutional clients across both Ethereum and Solana. This collaboration allows clients to utilize their “idle Bitcoin” for investments across various chains.

A spokesperson for Crypto.com told Cointelegraph that the exchange currently provides some of the highest liquidity for BTC/USD and USDT trading pairs.

21.co collaborates with various crypto firms to enhance its services. In addition to Crypto.com’s strong liquidity and compliance, 21BTC integrates Chainlink’s proof of reserve for added transparency for investors. The 21BTC was recently launched on the Ethereum network.

On September 3, 21.co introduced 21BTC on Ethereum, expanding its range of wrapped tokens, which also includes wrapped Avalanche (AVAX), Polkadot (DOT), and Solana (SOL). To ensure user protection, 21.co employs cold storage and regulated third-party custodians, and it has partnered with market maker Flow Trader for the management of 21BTC issuance.

According to CoinMarketCap, WBTC remains the most popular Bitcoin wrapper, boasting a market capitalization of over $9.5 billion.

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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