Lynq, a real-time yield retention payments 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 mark Crypto.com’s first digital asset exchange to integrate Lynq, allowing institutional clients to seamlessly fund trading accounts and provide them to the payment platform off-ramp.
Additionally, the exchange gains the ability to access a network of market participants that allows real-time payments and acquire yields on assets held on the platform through the Lynq transport rate feature.
Eric Anzaini, president and chief operating officer of Crypto.com, has high hopes for the partnership, saying:
“To join Lynq is consistent with crypto.com’s commitment to driving innovation and promoting greater efficiency within the digital asset ecosystem. Lynq believes it will bring great benefits to the institutions we serve, and we are proud to be the first digital asset exchange to leverage this technology.”
The Lynq consortium consists of a large flock of Crypto players beyond Crypto.com alone
The yield network aims to address some of the unique challenges with digital asset settlement, including market fragmentation, evolving regulatory frameworks, and counterparty risk.
To this end, Lynq leverages Tzero’s broker dealer and special purpose broker dealer licenses, Arca’s registered investment advisor and Delaware Trust, and leverages Tassat’s real-time blockchain infrastructure.
Speaking of Arca and Tassat, the Lynq consortium includes key cryptocurrency names and distributed financial (DEFI) spaces such as Arca Labs, Avalanche, Tzero Group, Us Bank, and Tassat Group.
Jerald David, president of Arca Labs, a consortium leader, welcomed the partnership as both a natural progression and a key solution to the market-wide problems, saying:
“Crypto.com ranks as one of the world’s leading cryptocurrency exchanges and we are honored to be part of the consortium with Crypto.com Exchange. This partnership is a natural advance in our mission to provide efficient and scalable settlement solutions that meet the specific needs of institutional clients in the digital asset industry.”
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