The Singapore-based crypto exchange Crypto.com has initiated a strategic alliance with 21.co, the parent company of 21Shares. The collaboration intends to provide Bitcoin liquidity for 21.co Wrapped Bitcoin (21BTC) customers. The partnership envisions providing liquidity support for 21.co’s exchange-traded products (ETPs), with 21BTC as the initial focus.
In an X post dated October 7, 2024, Crypto.com announced its partnership with 21.co. The exchange stated that it has entered into a strategic alliance with “one of the world’s largest issuers of crypto ETPs.” Crypto.com further stated that through its coalition, it seeks to enhance liquidity solutions for retail and institutional clients. In addition, the platform cited that the venture supports Crypto.com’s goal of making crypto accessible to everyone and boosting mainstream adoption.
To better serve retail and institutional customers with liquidity solutions, https://t.co/vCNztATSCO has entered into a partnership with @21co__ (one of the world’s largest issuers of crypto ETPs).
This marks the latest step towards our goal of putting crypto in every wallet,… pic.twitter.com/eDAeFQdeac
— Crypto.com (@cryptocom) October 7, 2024
21.co announced the launch of its own Bitcoin wrapper, 21BTC, on the Ethereum blockchain network on September 3, 2024. The wrapped Bitcoin is set to bring robust asset management standards to wrapped assets, featuring top-tier custodians and security measures.
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Eliezer Ndinga, Head of Strategy and Business Development, Digital Assets at 21.co, expressed the platform’s excitement in partnering with Crypto.com. Addressing it as a starting point for a long-term collaboration, Ndinga cited,
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.
Meanwhile, Crypto.com President Eric Anziani sees the venture as a solid demonstration of the company’s exceptional liquidity and its capability to support innovations. Anziani acknowledged 21.co as a proven global company that drives innovation across multiple ETP, ETF, and tokenization projects. The President reiterated that in the joint venture, the companies strive to provide liquidity solutions to retail and institutional crypto traders.
