#USA #New York #Digital Assets #Crypto.com #VerifiedX

Crypto.com Partners with VerifiedX for Enhanced Custody Solutions

In a landmark collaboration, Crypto.com has joined forces with the VerifiedX (VFX) Network, a frontrunner in self-custody and Web3 wallet solutions. This partnership is set to revolutionize the way institutions interact with digital assets by providing secure custody and liquidity support for a striking $1.5 billion in assets.

What This Partnership Means

The primary goal of this agreement is to offer eligible institutions a robust platform for securely storing, managing, and trading digital currencies. Crypto.com will leverage its institutional-grade custody service, designed specifically for the needs of institutional clients, complete with multi-user permissions and customizable governance workflows. This service addresses the increasing demand for scalable and compliant blockchain infrastructure.

Eric Anziani, President and COO of Crypto.com, expressed enthusiasm for the partnership: "Crypto.com Custody is specifically designed with expectations of institutional-grade clients. We are pleased to be selected by VerifiedX, a leader in self-custody and digital asset wallet capabilities, to further enhance an established custody offering for all client needs."

VerifiedX's Vision

The VerifiedX Foundation has a clear mission: to provide a custody solution that is not only seamless and secure but also globally accessible. The integration of Crypto.com’s best-in-class custody and liquidity infrastructure significantly elevates this vision. By adopting this world-class custody and over-the-counter (OTC) trading capability, VerifiedX enhances its network's infrastructure, ensuring that both users and institutions can interact safely and efficiently with digital assets.

"As the people's network, our goal is to ensure that custody is a simple, secure process. Partnering with Crypto.com allows us to provide our users and institutions with a scalable and secure way to engage with digital assets across the VFX ecosystem," noted a spokesperson from the VerifiedX Foundation.

A Growing Ecosystem

This partnership is the latest in a series of collaborative efforts between Crypto.com and VerifiedX. The companies previously worked together to integrate Crypto.com Pay into VerifiedX's Switchblade Wallet, creating a seamless experience for everyday users and developers alike. With Crypto.com Custody's end-to-end solutions, eligible institutions and high-net-worth clients can engage with digital assets safely and effectively.

Future Prospects

Currently, VerifiedX offers innovative solutions like tokenized self-custody, on-chain storage, and peer-to-peer commerce. The network operates as the first fully open-source decentralized network, functioning as both a universal layer 1 and a Bitcoin-specific reliever chain. VFX’s native coin empowers users to mint Verified Bitcoin Tokens (vBTC), effectively streamlining their journey in managing Bitcoin and digital assets.

Through this partnership with Crypto.com, VerifiedX aims to reduce costs of ownership and minimize friction for users, thereby encouraging broader engagement in digital currencies.

In conclusion, as the landscape of digital asset management continues to evolve, the collaboration between Crypto.com and VerifiedX stands as a testament to the growing importance of secure, calculated, and user-friendly solutions in the blockchain space. Interested parties looking for custody offerings can reach out to Crypto.com via their official website at crypto.com/custody.