Crypto.com Chain Welcomes First Settlement Agent & Stablecoin Partners
OS Limited (OSL), Paxos & TrustToken join the Crypto.com Chain
HONG KONG, July 16, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has welcomed OS Limited (OSL) as its first Settlement Agent and Paxos and TrustToken as stablecoin partners for the Crypto.com Chain.
Crypto.com Chain is a high-performing native blockchain powering Crypto.com Pay, which allows users to pay or get paid in crypto anywhere, thus driving cryptocurrency adoption globally. Settlement Agents in the Crypto.com Chain network will perform settlement between Crypto.com Chain CRO Token and currencies deemed stable. Stablecoin partners will provide an easy way to move out of stablecoins and will allow for merchants to get paid in supported fiat currencies.
The following three companies have confirmed their intent to join the Crypto.com Chain:
Settlement Agent: OSL is Asia's leading digital asset brokerage providing global counterparts with a suite of institutional products and services. OSL offers over-the-counter (OTC) trading services with access to large liquidity pools, systematic intelligent request for quote (iRFQ) trading for single or multiple coins, bespoke token services and a growing range of institutional trading solutions.
Stablecoin Partners: Paxos is a New York Trust charter company and financial institution regulated by the New York State Department of Financial Services. Paxos developed PAX, the world's first regulated stablecoin backed on a 1:1 basis by USD.
TrustToken is a platform to create asset-backed tokens on blockchains in a way that is legally enforced, audited, and collateralized. TrustToken developed TUSD, a USD-backed ERC20 stablecoin that is fully collateralized and transparently verified by third-party attestations.
Kris Marszalek, Co-founder and CEO of Crypto.com said, "Settlement Agents & Stablecoin partners will play a critical role in the Crypto.com Chain, as they will help to ensure sufficient liquidity, manage settlement risk and provide price stability for merchants. We are pleased to be working with three leading players in the industry as we continue to build an inclusive ecosystem for the Crypto.com Chain."
For more information on the Crypto.com Chain, please visit: www.crypto.com/chain.
About OS Limited (OSL)
OS Limited (OSL) is an Asia-based digital asset brokerage that provides global counterparts with a suite of institutional products and services. Operating as part of BC Group (HKSE stock code: 0863), OSL sets the industry's highest standards. OSL offers leading over-the-counter (OTC) trading services with access to large liquidity pools, systematic request for quote (RFQ) trading for single or multiple coins, bespoke token services and a growing range of institutional trading solutions. Its secure brokerage platform, backed by proprietary technology, delivers counterparts institutional-grade access to digital asset markets globally. OSL is the industry benchmark for counterpart selection, security, transparency, trading and know-your-customer and anti-money-laundering compliance. OSL's experienced team of professionals includes veterans and pioneers who are trusted by counterparts and the community. OSL's founders were among the first movers in the digital asset ecosystem globally and have been active in the space since 2013. Visit osl.com for more information on OSL. Visit bc.group for more information on BC Group.
About Paxos
Paxos is on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos is building a future where all assets—from money to commodities to securities—will be digitized and can move instantaneously, 24/7. Settlement risk will cease to exist, so trillions of dollars of trapped capital can go to work in a global, frictionless economy. Today, as the first regulated Trust company with blockchain expertise, Paxos is uniquely positioned to mobilize and custody assets digitally. Visit www.paxos.com for more information on Paxos and its institutional-grade products like PAX, the itBit crypto-asset exchange, OTC trading, Post-Trade services, and Custody. PAX and Paxos Standard are trademarks of Paxos Trust Company, LLC.
About TrustToken
TrustToken is a platform to create asset-backed tokens, one of the world's first platforms to securitize and transact real-world assets on blockchains in a way that is legally enforced, audited, and collateralized. TrueUSD is the first asset token built on the TrustToken platform. TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk, and to provide token-holders with legal protections against misappropriation. Visit www.trusttoken.com for more information on TrustToken and tokens & products offered.
About Crypto.com
Crypto.com was founded in 2016 to accelerate the world's transition to cryptocurrency. Key products include: the Crypto.com App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com.
SOURCE Crypto.com
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