Crypto.com and the VerifiedX (VFX) Network announced a partnership on November 21, under which Crypto.com will supply $1.5 billion in assets with institutional-grade custody, liquidity support, and OTC trading capabilities for VerifiedX users.
Custody and OTC Trading Details
Eligible institutions using VerifiedX can now store, manage, and transact digital currencies on Crypto.com's regulated custody platform. The service features multi-user permissions, customizable governance workflows, and insured custody solutions, catering to demand for scalable, low-cost, and compliant blockchain infrastructure. Eric Anziani, President and COO of Crypto.com, stated: "Crypto.com Custody is built for institutional-grade expectations, and we are pleased to be selected by VerifiedX to enhance their custody offering."
Strategic Alignment
The VerifiedX Foundation commented: "Our mission is to make custody seamless, secure, and globally accessible. This partnership with Crypto.com elevates that ethos with best-in-class infrastructure. By integrating regulated custody and OTC capabilities, we reaffirm our commitment to providing the safest, most scalable path for interacting with digital assets across the VFX ecosystem." The deal supports a global infrastructure for payments, savings, commerce, and utility on the VerifiedX network.
Previous Integration and Ecosystem
This follows an earlier tie-up where Crypto.com Pay and on-ramp services were embedded directly into VerifiedX's Switchblade Wallets. Crypto.com, founded in 2016, serves millions of users globally. VerifiedX (VFX) describes itself as the first fully open-source decentralized network, acting as both a universal Layer 1 and a Bitcoin-specific sidechain. It enables minting of Verified Bitcoin Tokens (vBTC) with a 1:1 self-custodial peg, coupled with smart contract utility and asset recovery features.