21.co, the parent company of 21Shares, has partnered with Crypto.com to enhance liquidity and custody solutions for wrapped tokens, starting with wrapped Bitcoin (21BTC). These wrapped tokens allow users to utilize Bitcoin on different blockchains, like Ethereum, by encapsulating the original asset in a smart contract. This partnership aims to improve crypto accessibility for users and streamline access to decentralized finance applications that offer alternatives to traditional financial services without intermediaries.
The collaboration will enable 21.co to utilize Crypto.com’s vast liquidity pool to provide Bitcoin backing for 21BTC tokens. Crypto.com will also offer competitive fees and advanced trading technology for improved efficiency of the wrapped Bitcoin product. As demand for crypto products grows, partnerships like this seek to improve liquidity for both retail and institutional traders worldwide, paving the way for future advancements in the field.
