Crypto.com joins yield-bearing settlement network Lynq as launch partner

Lynq, a real-time, yield-bearing settlement network, announced earlier today that Crypto.com, one of the world’s leading digital currency exchanges, will join the network as a launch partner. The partnership will see Crypto.com become the first digital asset exchange to integrate Lynq, allowing institutional clients to seamlessly fund their trading accounts and offramp to the settlement platform. Moreover, the exchange will gain access to a network of market participants that enable real-time settlement and the ability to earn yield on assets held on the platform through Lynq’s Yield-in-Transit functionality. Eric Anzaini, Crypto.com’s President and Chief Operating Officer (COO), has high hopes for the partnership, having stated that: “Joining Lynq aligns with Crypto.com’s commitment to driving innovation and fostering greater efficiency within the digital assets ecosystem. We believe that Lynq will offer significant benefits to the institutions we serve, and we are proud to be the first digital asset exchange to leverage this technology.” Lynq’s consortium consists of a bevy of large crypto players beyond just crypto.com The yield-bearing network aims to address some of the unique challenges at play with digital asset settlement, such as market fragmentation, an ever-evolving regulatory framework, and counterparty risk — while providing yield to institutional clients. To this end, Lynq leverages tZERO’s Broker-Dealer and Special Purpose Broker-Dealer licenses as well as Arca’s Registered Investment Adviser and Delaware Trust, while leveraging Tassat’s real-time blockchain infrastructure. Speaking of Arca and Tassat, Lynq’s consortium includes leading names in the cryptocurrency and decentralized finance (DeFi) spaces such as Arca Labs, Avalanche, tZero Group, U.S. Bank, and Tassat Group. Arca Labs President Jerald David, leader of the consortium, hailed the partnership as both a natural progression and a key solution to a market-wide issue, stating that: “Crypto.com ranks among the world’s leading cryptocurrency exchanges, and we are honored to have the Crypto.com Exchange join the consortium. This partnership is a natural progression in our mission to deliver an efficient and scalable settlement solution that addresses the specific needs of institutional clients in the digital asset industry.” Featured image via Shutterstock Source: https://finbold.com/crypto-com-joins-yield-bearing-settlement-network-lynq-as-launch-partner/