Leading digital assets exchange, Crypto.com, has partnered crypto custody, transfer and settlement platform, Fireblocks to extend its relevance to institutional users in the space.
Crypto.com disclosed the partnership with Fireblocks Network via a press statement shared with Altcoin Buzz. The statement noted that the collaboration will enable Crypto.com extend its reach to over 400 institutions in the blockchain space.
According to the exchange, the partnership was reached due to the rise in institutions’ interest in the crypto ecosystem. Due to the integration, Crypto.com would have access to institutions, including international banks, global asset managers, OTCs, hedge funds, amongst others currently under the Fireblocks Network.
Eric Anziani, Chief Operating Officer of Crypto.com in a statement expressed his excitement with Fireblocks collaboration. He noted that the partnership will enable Crypto.com boost its institutional trading volume, as well as increase its relevance globally.
“[…] We have already Fireblocks for our internal treasury management system, and the Crypto.com Exchange integration with the Fireblocks Network is another step in creating a secure infrastructure for institutions to enter the digital asset space,” Anziani added.
Fireblocks Network to Enable Crypto.com Access Over 400 Institutions Globally
The statement also disclosed that since its launch in June 2020, Fireblocks Network has recorded massive growth of about 627%. As a result, Fireblocks has amassed over 400 institutions that are actively moving assets across several global digital asset exchanges.
Crypto.com due to the integration would also be able to move assets across and in between the exchanges which includes Binance, Bitfinex, Coinbase, FTX, among others. Also, vice versa members of the Fireblocks Network will enjoy instant transaction settlement, and secure connectivity with Crypto.com.
Michael Shaulov, Chief Executive Officer of Fireblocks Network also expressed his excitement about Crypto.com partnership. He said that Crypto.com integration shows that it understands the key role Fireblocks can play in its growth and expansion plans.
“The Fireblocks Network not only allows for a more secure and seamless way to transfer assets, but also serves as a discovery venue for the most active institutional participants in the digital asset space,” he said.
Quarterly Futures Contracts Q3/Q4 Now Live On Crypto.com
Meanwhile, Crypto.com has announced that the Q3 and Q4 BTCUSD Futures Contracts are now available in its derivatives exchange.
Quarterly Futures Contracts Q3/Q4 are now available in the https://t.co/vCNztABJoG Exchange
⚡Trade BTCUSD Futures
⚡Up to 100x leverage
⚡USD stablecoin settlement
Trade Now 👉https://t.co/WaSVA3VwlB
— Crypto.com (@cryptocom) June 17, 2021
According to the announcement, users can settle in USD stablecoins as well as access leverage of up to 100x, and enjoy discounted trading fees based on the amount of CRO they stake.
As of the time of publication, Crypto.com coin’s price dropped by 2.5%. CRO was trading at $0.111815 with a 24-hour trading volume of $54,644,875 and a market cap of $2,822,878,113.
The token currently has a circulating supply of 25 Billion CRO coins, as well as, a max supply of 30.3 Billion.
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