Zurich, Switzerland, September 19, 2024, Chainwire
SCRYPT, a Swiss-licensed leader in institutional-grade crypto asset services, today announced a strategic partnership with OpenTrade, an institutional-grade platform for lending and yield products. The partnership will launch a product that allows SCRYPT clients to seamlessly invest USDC and EURC in tokenized US Treasury bills and EU government bonds.
According to rwa.xyz, the tokenized US Treasury bond industry has increased in value by 90%, from $1.13 billion at the end of the first quarter to $2.15 billion so far this quarter. This offering, which responds to the growing demand from institutional investors and corporate clients, provides secure and easy access to money market returns, eliminating the costs and complexities of traditional fiat currency on- and off-ramps.
Through this partnership, SCRYPT clients can directly invest USDC or EURC from their SCRYPT-custodied and segregated wallets into these tokenized assets via OpenTrade. Institutional clients can participate in money markets with idle balances and enjoy the flexibility to move capital quickly and easily.
SCRYPT clients benefit from fully protected and professionally managed positions through OpenTrade’s bank-grade off-chain trading and robust legal structure, specifically designed to meet the needs of institutional clients. Despite its recent launch, this product has already generated significant interest among clients.
Key features and benefits of the product include:
- Participation with a volatility hedge: Institutional clients have the opportunity to participate in money markets that are hedged against fluctuations in the cryptocurrency market.
- Backed exclusively by high-quality real-world assets: US Treasury Bills and EU Government Bonds, secured through OpenTrade's remote bankruptcy legal framework.
- Streamlined Treasury Management: On-chain treasury fund management in USDC and EURC without the complexities of moving in and out of traditional fiat currencies or dealing with multiple accounts and platforms.
- Immediate accrual interest: gain market access immediately after subscription, with a maximum withdrawal period of 48 hours to claim USDC or EURC.
- Tokenized and permissioned platform: A secure and AML-compliant environment that mitigates smart contract risks and improves overall security.
Dave Sutter, Co-Founder and CEO of OpenTrade“It has been fantastic working with SCRYPT to implement a solution that delivers real utility value to its customers. Together, we can offer investment products that combine the benefits of stable money market returns with the speed and flexibility of on-chain accounts and transactions, which combined provide customers with the simplest and most cost-effective way to maximize returns without introducing undue complexity. We are delighted to see the early interest from SCRYPT customers and look forward to supporting continued growth in the future.”
Norman Wooding, Founder and CEO of SCRYPTHe added: “Our partnership with OpenTrade represents an important milestone for SCRYPT and our institutional and corporate clients. Enabling investors and treasurers to earn interest on their USDC and EURC balances directly aligns with our mission to bridge traditional finance and crypto assets. This offering underscores our commitment to providing secure, transparent, and efficient ways to optimize stablecoin holdings while maintaining the highest standards of institutional service.”
About SCRYPT
SCRYPT is a leading Swiss-licensed partner for institutional crypto solutions, providing secure and seamless management, trading and custody of crypto assets.
For more information: SCRYPT | [email protected]
About OpenTrade
OpenTrade is an institutional-grade platform for USDC and EURC yield products backed by real-world assets. OpenTrade’s enterprise-grade platform has been specifically designed to provide FinTechs with a turnkey solution to offer USDC and EURC yield products to their users, accessible at the click of a button and protected by OpenTrade’s bankruptcy-free remote structure, bank-grade operations, and a time-tested legal framework.
To learn more: OpenTrade
The above content does not constitute a recommendation of investment and trading strategies or an investment offer, solicitation or recommendation of any product or service. The content is for information exchange purposes only. Anyone who makes or changes the investment decision based on the content shall bear the result or loss by themselves. The content of this document has been translated into different languages and shared on different platforms. In case of any discrepancy or inconsistency between different publications caused by translation errors, the English version on our official website shall prevail.
ContactJunior ConsultantJacob McGoldrickCW8 Communications[email protected]
This article was originally published on Chainwire
