Crypto.com Partners with XYO for Regulated Custody of XYO and XL1

Crypto.com has announced that it will provide regulated custody and liquidity services for XYO and XL1, two digital assets. This move comes after Citadel Securities invested $400 million in Crypto.com at a $20 billion valuation in July this year.

The OCC gave Crypto.com conditional approval for a national trust bank charter in February this year. The deal between Crypto.com and the owners of XYO and XL1 allows eligible institutions and high-net-worth clients to store, manage, and swap both tokens without moving assets onto an exchange first.

Crypto.com Custody will hold XYO and XL1 in segregated MPC wallets for institutional clients. Private keys are protected through multi-party computation that runs inside trusted execution environments.

'Digital asset organizations require a custodial solution that delivers both unmatched security and seamless liquidity,' said Eric Anziani, President and Chief Operating Officer of Crypto.com.