Switzerland-based provider of institutional crypto asset services SCRYPT has partnered with OpenTrade
Switzerland-based provider of institutional crypto asset services SCRYPT has partnered with OpenTrade . Through this partnership, the companies aim introduce a product allowing SCRYPT clients to invest in tokenized US Treasury Bills and EU Government Bonds using USDC (USD Coin) and EURC (Euro Coin).
According to the official press release citing data from rwa.xyz, the tokenized US Treasuries market has grown substantially, from USD 1.13 billion at the end of Q1 to USD 2.15 billion. This collaboration is aimed at meeting the rising demand from institutional and corporate investors seeking secure access to money market returns while bypassing the complexities and costs of traditional fiat currency systems. Investment and treasury management In essence, the new product enables SCRYPT clients to invest USDC or EURC directly from their SCRYPT-custodied wallets into tokenized assets through OpenTrade.
Investors benefit from a secure structure, with assets protected and managed through OpenTrade's off-chain banking-grade operations and legal framework. Some of the main features of the product include: Investors receive daily payouts on money market returns, unaffected by cryptocurrency price movements. Investments are secured by US Treasury Bills and EU Government Bonds, supported by OpenTrade’s framework. Clients can manage their treasury assets on-chain without dealing with multiple platforms or the need to convert between fiat and cryptocurrencies. Interest begins accruing upon subscription, with withdrawals available within 48 hours. The service is offered through a permissioned and AML-compliant environment that minimizes smart contract risks.
Officials from OpenTrade noted that working with SCRYPT has allowed them to create a solution that brings practical value to clients. They highlighted that the product combines stable money market returns with the flexibility of on-chain transactions, simplifying earnings optimisation for investors. In turn, representatives from SCRYPT commented that the partnership aligns with their goal of bridging traditional finance and crypto assets.
They highlighted that this offering provides a secure and efficient way for investors to earn interest on their USDC and EURC holdings, in line with SCRYPT’s institutional-grade service standards. .
Sep 23, 2024 10:50
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