21.co and Crypto.com team up to improve wrapped Bitcoin liquidity

21.co, the parent company of 21Shares, has announced a strategic partnership with Crypto.com.

The collaboration will enhance liquidity and custody solutions for 21.cos wrapped tokens, starting with its wrapped Bitcoin (BTC).

Wrapped tokens like 21BTC allow users to use Bitcoin on other blockchains, such as Ethereum (ETH), by “wrapping” the original asset in a smart contract.

This allows users to benefit from Bitcoins value while also interacting with decentralized finance applications. DeFi is a system of financial services built on blockchain technology, offering alternatives to traditional financial services without intermediaries like banks.

The companies plan to expand their partnership further in the future, though specific details are yet to be announced. As demand for crypto products grows, partnerships like this aim to streamline access and improve liquidity for both retail and institutional traders globally.