# Crypto.com Enhances Custody Solutions for Axelar Foundation and Frax
## Introduction
In a recent development, Crypto.com, a renowned cryptocurrency exchange, has unveiled strategic institutional partnerships with the Axelar Foundation and Frax. These collaborations mark a significant milestone in providing custodial solutions for the native tokens of both entities, underscoring Crypto.com’s commitment to offering top-tier security, compliance, and liquidity services to institutional clients.
### Crypto.com Partners with Axelar Foundation
As part of the partnership agreement, Crypto.com is set to extend custody support to the Axelar Foundation, ensuring the secure storage and management of AXL, the native token of the cross-chain network. The collaboration aims to boost Axelar Foundation’s operations by enhancing treasury management for validator incentives, ecosystem grants, and network operations.
#### Insights from Axelar Foundation
Georgios Vlachos, director and co-founder of the Axelar protocol, expressed the significance of seamless tokenization for institutions. He highlighted the critical role of Crypto.com’s Custody in providing advanced security tools vital for supporting Axelar’s token ecosystem.
### Crypto.com Strengthens Collaboration with Frax
In a parallel move, Crypto.com will also provide custody solutions for FRAX, the native asset and gas token of the Fraxtal blockchain operated by Frax. This partnership is set to streamline staking, funding, and reserve management for Frax while upholding stringent compliance and operational standards.
#### Frax’s Perspective
Sam Kazemian, the founder of Frax, emphasized the importance of reliable custody services for institutional clients. The alliance with Crypto.com paves the way for secure access to the FRAX token, empowering participation in the ecosystem designed to sustain the GENIUS stablecoin.
## Conclusion
The mutual agreements between Crypto.com, Axelar Foundation, and Frax signal a new era of enhanced custodial services for digital assets. By leveraging Crypto.com’s robust infrastructure and expertise in custody solutions, both Axelar Foundation and Frax are poised to elevate their operational efficiency and security standards. These partnerships underscore Crypto.com’s pivotal role in addressing the evolving needs of institutional clients within the cryptocurrency space.
*Featured image via Shutterstock*
*This post was originally published on [Finbold](link to Finbold’s original article).*