- 21.co and Crypto.com have announced a strategic partnership aimed at increasing liquidity for the 21BTC token.
- The partnership also seeks to improve the token’s accessibility.
Crypto.com and 21.co, the parent company of 21Shares, revealed a strategic alliance in which 21.co will leverage the cryptocurrency exchange to boost liquidity and broaden the adoption of 21BTC.
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.
“We are thrilled to integrate 21BTC with https://t.co/Oavs5Ti3Ip, enhancing user… pic.twitter.com/dkySZr9IqI
— 21.co (@21co__) October 7, 2024
Both companies said in a press release dated October 7 that 21.co will use the partnership with Crypto.com to enhance 21BTC’s liquidity and visibility.
“As two leaders in innovation, expertise, and operations within digital assets, the 21.co–Crypto.com partnership creates a powerful combination,” said Eliezer Ndinga, Head of Strategy and Business Development at Crypto.com. “Crypto.com is one of the world’s largest digital asset exchanges, serving over 100 million users globally. As a major issuer of crypto ETPs, 21.co brings asset management best practices and operational excellence to the packaged assets space.”
Key Partnerships Supporting 21BTC
This marks the latest collaboration for 21.co, whose subsidiary 21Shares is among the leading issuers of exchange-traded crypto products.
In September, the firm announced an integration with Chainlink for 21BTC. The wrapped token was launched to provide users with access to Bitcoin (BTC) on Ethereum.
21BTC uses Chainlink’s Proof of Reserve to deliver real-time transparency and security for the token’s backing. 21.co also partnered with Raydium, a major decentralized exchange on Solana, to create a 21BTC-JitoSOL liquidity pool.
The token benefits from Raydium’s user base and the platform’s total value locked, which support liquidity and adoption. Raydium is prominent in the Solana ecosystem thanks to its hybrid liquidity model, enabling traders to access deep liquidity via an automated market maker pool combined with a central limit order book.
Recently, 21.co also partnered with Kamino Finance, a leading DeFi protocol on Solana. Kamino manages more than $1.6 billion in assets and provides access to lending, credit, and liquidity management products.