SCRYPT Partners with OpenTrade to Offer Money Market Access on USDC/EURC for Institutional Clients
The post SCRYPT Partners with OpenTrade to Offer Money Market Access on USDC/EURC for Institutional Clients appeared on BitcoinEthereumNews.com.
Zürich, Switzerland, September 19th, 2024, Chainwire SCRYPT, a Swiss-licensed leader in institutional-grade crypto asset services, today announces 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 into tokenized U.S. Treasury Bills and E.U. Government Bonds. The US Tokenized Treasuries industry has increased in value by 90% from $1.13 billion at the end of Q1 to $2.15 billion so far this quarter, according to rwa.xyz. Appealing to the growing demand from institutional investors and corporate clients, this offering provides secure, straightforward access to money market returns, eliminating the costs and complexities of traditional fiat on/off-ramps. Through this partnership, SCRYPT clients can directly invest USDC or EURC from their segregated, SCRYPT-custodied wallets into these tokenized assets via OpenTrade. Institutional clients can participate in money markets on idle balances while enjoying the flexibility to move capital quickly and easily. SCRYPT’s clients benefit from positions that are fully safeguarded and professionally managed via OpenTrade’s bank-grade off-chain operations and robust legal structure, specifically designed to meet the needs of institutional clients. Despite its recent launch, this product has already generated significant interest amongst clients. Key features and benefits of the product include: Participating with a volatility hedge: Institutional clients have the opportunity to participate in money markets that are hedged against crypto market fluctuations. Exclusively backed by high-quality real-world assets: U.S. Treasury Bills and E.U. Government Bonds, secured through OpenTrade’s bankruptcy remote legal framework. Streamlined treasury management: Managing on-chain treasury funds in USDC and EURC without the complexities of on/off-ramping into traditional fiat currencies or dealing with multiple accounts and platforms. Immediate accrued interest: Attaining access to the market immediately upon subscription, with a maximum 48-hour withdrawal period to reclaim USDC or EURC. Permissioned, tokenized platform: A secure, AML-compliant environment that mitigates smart contract risks and…
Filed under: News - @ September 19, 2024 2:28 pm