In an important move to enhance liquidity in the cryptocurrency space, 21. co, the parent company of 21shares has announced a tactical partnership with crypto.com. This partnership focuses on improving liquidity and custom solutions for 21. co‘s wrapped tokens, starting with wrapped Bitcoin (21BTC)
Wrapped Bitcoin: Bridging Blockchains
Wrapped tokens like 21BTC allow users to leverage Bitcoin’s market value while utilizing other blockchain ecosystems, particularly Ethereum. This collaboration aims to “wrap” Bitcoin in a Smart Contract, which allows investors to associate with Decentralized Finance (DeFi) that operates on a different blockchain. This partnership brings together the best features of both worlds: the value and trustworthy nature of Bitcoin integrated with the flexibility and functionalities of Ethereum.
Partnership Details and Benefits
Crypto.com’s vast will be leveraged by this collaboration, which will provide necessary support for 21BTC tokens. This platform also allows competitive fees and advanced trading technology, improving the efficiency of 21.co’s product.
Head of Strategy at 21.co, Eliezer Ndinga expressed the importance of combining 21BTC with crypto.com, stating that it will eventually improve accessibility for investors worldwide.
Ndinga stated:
“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.”
Looking Ahead:
With a major aim to improve liquidity for wrapped bitcoin, both companies have expressed plans to further expand their partnership. When crypto products are highly demanded, collaboration like this aims to streamline access and enhance liquidity for both retail and industrial traders across the globe.
By joining forces 21. co and crypto.com are aiming for seamless, efficient, and effective Wrapped Bitcoin. This aims to make the crypto market available to a broader audience.
