Hong Kong-based cryptocurrency platform Crypto.com announced on Tuesday it has named OS Limited (OSL), a digital asset brokerage providing global counterparts with a suite of institutional products and services. OSL offers over-the-counter (OTC) trading services, as its first Settlement Agent and Paxos, financial institution regulated by the New York State Department of Financial Services and TrustToken, a platform to create asset-backed tokens on blockchains in a way that is legally enforced, audited, and collateralized as stablecoin partners for the Crypto.com Chain.
According to Crypto.com, Crypto.com Chain is a high-performing native blockchain powering Crypto.com Pay, which allows users to pay or get paid in crypto anywhere, thus driving cryptocurrency adoption globally. The platform further explained:
“Settlement Agents in the Crypto.com Chain network will perform settlement between Crypto.com Chain CRO Token and currencies deemed stable. Stablecoin partners will provide an easy way to move out of stablecoins and will allow for merchants to get paid in supported fiat currencies.”
Speaking about the collaborations, Kris Marszalek, Co-founder and CEO of Crypto.com added:
“Settlement Agents & Stablecoin partners will play a critical role in the Crypto.com Chain, as they will help to ensure sufficient liquidity, manage settlement risk and provide price stability for merchants. We are pleased to be working with three leading players in the industry as we continue to build an inclusive ecosystem for the Crypto.com Chain.”