Crypto.com Expands Institutional Custody to XYO Tokens
Crypto.com has expanded its institutional-grade custody services to include native tokens of the XYO ecosystem, a decentralized physical infrastructure network.
The move allows eligible institutional investors and high-net-worth clients to hold XYO ecosystem tokens through Crypto.com Custody, the company announced Monday.
Crypto.com said its custody platform will support both XYO and XL1, which are part of the XYO Network dual-token model. XYO secures and incentivizes data validation across the network, while XL1 is the network's Layer-1 blockchain token that powers transactions and network operations.
The custody expansion follows a $400 million investment from Citadel Securities into Crypto.com at a $20 billion valuation, providing fresh capital to expand the company's institutional business. This includes tokenized securities and derivatives.