Crypto.com Joins Lynq Yield-Bearing Settlement Network
Introduction
Lynq, a real-time yield-bearing settlement network, has announced a new partnership with Crypto.com, a leading digital currency exchange. This collaboration marks a significant milestone in the digital assets ecosystem, showcasing a commitment to innovation and efficiency within the industry.
Crypto.com’s Integration with Lynq
Crypto.com will be the first digital asset exchange to integrate Lynq into its platform, enabling institutional clients to seamlessly fund their trading accounts and access the settlement platform for offramping. Through this integration, Crypto.com’s clients will have the opportunity to engage in real-time settlement and earn yield on assets held on the platform using Lynq’s Yield-in-Transit functionality.
Eric Anzaini, Crypto.com’s President and COO, expressed optimism about the partnership, emphasizing the benefits it will bring to institutional clients. He believes that Lynq’s technology will enhance efficiency and drive innovation in the digital assets space.
Lynq’s Unique Offerings and Consortium
Lynq’s consortium comprises prominent players in the crypto industry, extending beyond Crypto.com. The yield-bearing network aims to tackle challenges associated with digital asset settlement, including market fragmentation, regulatory complexities, and counterparty risk, while providing yield opportunities for institutional clients.
Lynq leverages licenses from industry leaders such as tZERO and Arca, along with real-time blockchain infrastructure from Tassat. The consortium includes renowned names in the cryptocurrency and DeFi spaces, such as Arca Labs, Avalanche, tZero Group, U.S. Bank, and Tassat Group.
Partners’ Perspective on the Collaboration
Jerald David, President of Arca Labs and leader of the Lynq consortium, praised the partnership with Crypto.com as a significant step towards addressing market-wide challenges in settlement solutions. He acknowledged Crypto.com as a top cryptocurrency exchange and highlighted the partnership’s role in delivering efficiency and scalability for institutional clients in the digital asset industry.
Conclusion
The partnership between Crypto.com and Lynq signifies a strategic alignment towards driving innovation and efficiency in digital asset settlement. By integrating Lynq’s technology, Crypto.com aims to provide enhanced services to institutional clients, paving the way for a more streamlined and yield-driven ecosystem within the digital assets space.
Featured image via Shutterstock. The article was originally published on Finbold.