- Through this cooperation, institutions may use Crypto.com’s regulated, institutional-grade custody infrastructure to safely store, monitor, and transact VET and VTHO.
- Through this partnership, more institutions will have access to the VeChainThor network.
Today, Crypto.com and the VeChain Foundation announced their collaboration to provide secure custody support for the native VeChain (VET) and VeThor (VTHO) tokens on the VeChainThor blockchain. Through this partnership, more institutions will have access to the VeChainThor network, a public blockchain that facilitates high-speed value transactions, transparent information flow, and effective teamwork for common B2B and B2C applications.
Crypto.com Custody provides high-net-worth individuals and qualified institutions with custody services via a complete, end-to-end solution that prioritizes safety and security.
Through this cooperation, institutions may use Crypto.com’s regulated, institutional-grade custody infrastructure to safely store, monitor, and transact VET and VTHO. The service satisfies the increasing need for scalable, affordable, and compliant blockchain infrastructure by providing insured custody options, multi-user rights, and configurable governance procedures.
Eric Anziani, President and COO of Crypto.com stated:
VeChainThor employs a novel dual-token system in which VTHO covers gas usage for blockchain operations and VET serves as the value-transfer medium. This enables the blockchain to retain cost stability even in times of significant market volatility. By implementing dynamic fees via a gas fee market based on Ethereum’s EIP1559, the network has improved security, balanced demand and expenses, and added an accelerated deflationary model to the tokenomics of the protocol.
Sunny Lu, VeChain CEO stated:
Clients that are interested may send contact requests to crypto.com/custody. Please contact [email protected] if you would want to collaborate with Crypto.com.
More than 150 million clients worldwide trust Crypto.com, which was founded in 2016 and leads the industry in security, privacy, and regulatory compliance. Through innovation, Crypto.com is dedicated to speeding up the adoption of cryptocurrencies and enabling the next generation of creators, builders, and entrepreneurs to create a more fair and equitable digital ecosystem.
VeChain was founded in 2015 and introduced VeChainThor, a general-purpose, adoption-focused blockchain platform, to facilitate widespread Web3 adoption. Developers and companies may create apps without needing extensive technical knowledge thanks to VeChain’s reliable, scalable network.
With its VeBetter platform, an app ecosystem that tokenizes and rewards users based on sustainability activities, VeChain now leads a retail-focused strategy after demonstrating its capabilities over the years and being supported by alliances with international organizations like the UFC, BCG, and Walmart China. With more than 4 million users using VeBetter-powered applications and more than 30 million tokenized operations to date, VeChain is still working to make blockchain useful, accessible, and influential for both individuals and companies. Go to vechain.org for resources, funding, and more.
Source: https://thenewscrypto.com/crypto-com-partners-with-vechain-for-institutional-custody-of-vet-and-vtho-tokens/
