21Shares US, which claims to be one of the world’s largest issuers of crypto exchange traded funds (ETFs), and Crypto.com, a global enabler of cryptocurrency services, today announced a new partnership in order to bring new investment products tracking the Cronos (CRO) token to market.
The partnership, which aims to form a CRO private trust and ETF, marks a key step in “broadening regulated access to Cronos, an Ethereum-compatible Layer 1 blockchain supported by Crypto.com.”
The decentralized, open source blockchain protocol is “built using the Cosmos SDK and is compatible with both the Ethereum Virtual Machine (EVM) and Cosmos ecosystem.”
Its compatibility allows developers to “leverage existing tools and tap into a growing community of dApps and protocols.”
Additionally, Cronos prioritizes low transaction costs and “high scalability, making it an attractive platform for developers and users alike.”
Federico Brokate, Global Head of Business Development said that they are pleased to partner with Crypto.com to help “expand investor access to the Cronos ecosystem through innovative and transparent investment products.”
Brokate added that Crypto.com and Cronos are both “paving the way for scalable and interoperable blockchain solutions, and this collaboration reinforces their commitment to delivering institutional-grade regulated exposure to the most relevant crypto assets.”
Eric Anziani, President and COO of Crypto.com said that providing more ways for traders to engage with cryptocurrencies is “central to their vision of further mainstreaming crypto.”
Anziani added that Crypto.com is a long-time supporter of and contributor to the Cronos blockchain, and they are eager to “partner with 21Shares to enable more investors to participate in the CRO journey ahead.”
This partnership announcement follows a previously established partnership between the firms to support innovation.
Founded in 2016, Crypto.com is used by people worldwide and is the industry participant focused on regulatory compliance, security and privacy.
As covered, Crypto.com says that it is committed to accelerating the adoption of cryptocurrency
As noted in the update, 21shares is one of the world’s cryptocurrency exchange traded product (ETP) providers and claoms it “offers one of the largest suites of crypto ETPs in the market.”
The company was founded to make cryptocurrency “more accessible to investors, and to bridge the gap between traditional finance and decentralized finance.”
21shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of “creating crypto ETPs that are listed on some of the biggest, most liquid securities exchanges globally.”
Backed by a research team, technology, and capital markets expertise, 21shares delivers “cost-efficient investment solutions.”
21shares is a subsidiary of FalconX, one of the world’s digital asset prime brokers.
21shares maintains independent operations from FalconX while “leveraging the resources and reach of FalconX to accelerate its mission and unlock growth.”