SCRYPT Partners with OpenTrade to Offer Money Market Access on USDC & EURC for Institutional Clients
In the bustling world of crypto asset services, SCRYPT, a Swiss-licensed leader, has made a groundbreaking move by forming a strategic partnership with OpenTrade, an institutional-grade platform for lending and yield products. This collaboration has birthed a revolutionary product that empowers SCRYPT clients to invest USDC and EURC seamlessly into tokenized U.S. Treasury Bills and E.U. Government Bonds.
Rapid Growth in US Tokenized Treasuries Industry
The US Tokenized Treasuries industry has witnessed a staggering 90% increase in value, soaring from $1.13 billion at the close of Q1 to an impressive $2.15 billion in the current quarter, as reported by rwa.xyz. This surge is fueled by the surging demand from institutional investors and corporate clients who seek secure and easy access to money market returns without the hassles of traditional fiat on/off-ramps.
Key Features and Benefits of the Product
- Participating with a volatility hedge: Institutional clients can engage in money markets hedged against crypto market fluctuations.
- High-quality real-world assets: The product is exclusively backed by U.S. Treasury Bills and E.U. Government Bonds, secured through OpenTrade’s bankruptcy remote legal framework.
- Streamlined treasury management: Manage on-chain treasury funds in USDC and EURC without the complexities of traditional fiat currencies or multiple accounts.
- Immediate accrued interest: Access the market immediately upon subscription, with a maximum 48-hour withdrawal period.
- Secure platform: A secure, AML-compliant environment that enhances overall security and mitigates smart contract risks.
Thoughts from Industry Leaders
- Dave Sutter, Co-Founder & CEO of OpenTrade, expressed excitement about the collaboration with SCRYPT and the value it brings to clients. The partnership offers investment products that combine stable money market returns with the speed and flexibility of on-chain transactions.
- Norman Wooding, Founder & CEO of SCRYPT, highlighted the significance of the partnership in providing secure and efficient ways for investors to optimize stablecoin holdings while maintaining institutional service standards.
About SCRYPT
SCRYPT is a prominent Swiss-licensed partner for institutional crypto solutions, offering seamless and secure management, trading, and custody of crypto assets.
About OpenTrade
OpenTrade is an institutional-grade platform for real-world asset-backed USDC & EURC yield products, designed to provide FinTechs with an out-of-the-box solution for powering yield products securely and effortlessly.
Disclaimer
The content shared is for informational purposes only and does not constitute an investment recommendation or offer. Individuals making investment decisions based on this content do so at their own risk. In case of discrepancies in translations, the English version on the official website prevails.
Contact
Junior Consultant Jacob McGoldrick
CW8 Communications
scrypt@cw8-communications.comRead the original article on Chainwire
Analysis:
The partnership between SCRYPT and OpenTrade introduces a game-changing product that opens up new opportunities for institutional clients to invest in tokenized U.S. Treasury Bills and E.U. Government Bonds. This offering not only meets the growing demand from investors seeking secure access to money market returns but also provides a seamless and efficient way to manage on-chain treasury funds in stablecoins without the complexities of traditional fiat currencies. The collaboration signifies a significant step towards bridging the gap between traditional finance and crypto-assets, offering investors a secure and transparent pathway to optimize their holdings while upholding the highest standards of institutional service. This innovative product is poised to revolutionize the way institutional clients engage in money markets, offering a unique combination of stability, security, and flexibility in the ever-evolving landscape of crypto asset services.