- 21.co and Crypto.com announced a strategic partnership aimed at bolstering liquidity for the wrapped Bitcoin token 21BTC.
- The partnership also aims at enhancing accessibility for the token.
Crypto.com and 21.co, the parent company of 21Shares, have announced a strategic alliance that will see the latter tap into the cryptocurrency exchange to enhance its Wrapped Bitcoin (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
The two companies said in a news release on Oct. 7 that 21.co aims at using its partnership with Crypto.com to boost 21BTC’s liquidity and adoption.
“As two leaders in digital asset innovation, know-how and operations, the 21.co–Crypto.com partnership creates a powerful combination,” Eliezer Ndinga, Crypto.com head of strategy and business development, said. “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.”
Key partnerships for 21BTC
It’s the latest collaboration within the crypto industry for 21.co, whose 21Shares is one of the leading issuers of crypto exchange-traded products.
In September, the company announced integration with Chainlink for 21BTC. The new wrapped token launched in that allows users to access Bitcoin (BTC) on Ethereum. 21BTC leverages Chainlink’s Proof of Reserve to offer transparency and real-time collateralization.
21.co also partnered with Raydium, Solana’s largest decentralized exchange to offer a 21BTC-JitoSOL pool. The token taps into Raydium’s user base and platform total value locked for liquidity and adoption.
Raydium dominates the Solana ecosystem with its hybrid liquidity model allowing traders to tap into deep liquidity via an automated market maker pool and central limit order book.
21.co recently partnered with Kamino Finance, the largest DeFi protocol on Solana. Kamino has a total value locked of over $1.6 billion and offers access to borrowing, lending, and liquidity management products.