SCRYPT Partners with OpenTrade to Offer Money Market Access on USDC & EURC for Institutional Clients
Zürich, Switzerland, September 19th, 2024 - SCRYPT, a Swiss-licensed leader in institutional-grade crypto asset services, has announced a strategic partnership with OpenTrade, an institutional-grade platform for lending and yield products. This partnership will introduce a product that enables SCRYPT clients to effortlessly invest USDC and EURC into tokenized U.S. Treasury Bills and E.U. Government Bonds.
The US Tokenized Treasuries industry has seen a remarkable 90% increase in value, soaring from $1.13 billion at the end of Q1 to $2.15 billion this quarter, as reported by rwa.xyz. This offering caters to the rising demand from institutional investors and corporate clients, providing them with secure access to money market returns without the complexities of traditional fiat on/off-ramps.
Through this collaboration, SCRYPT clients can directly invest their USDC or EURC from their segregated, SCRYPT-custodied wallets into these tokenized assets via OpenTrade. Institutional clients now have the opportunity to engage in money markets on idle balances while benefiting from the flexibility to move capital swiftly.
Key benefits of this product include participating in money markets hedged against crypto market fluctuations, high-quality real-world assets, streamlined treasury management, immediate accrued interest, and a secure, AML-compliant platform.
In the words of Dave Sutter, Co-Founder & CEO of OpenTrade, “We are thrilled to see the early interest from SCRYPT’s clients and look forward to supporting continued growth moving forwards.” Norman Wooding, Founder & CEO of SCRYPT, added, “This offering underscores our commitment to providing secure, transparent, and efficient ways to optimize stablecoin holdings while maintaining the highest standards of institutional service.”
SCRYPT is a leading Swiss-licensed partner for institutional crypto solutions, offering seamless and secure management, trading, and custody of crypto assets. OpenTrade, on the other hand, is an institutional-grade platform for real world asset-backed USDC & EURC yield products.
In conclusion, this partnership between SCRYPT and OpenTrade opens up new avenues for institutional and corporate clients to earn interest on their USDC and EURC holdings. By bridging traditional finance and crypto-assets, this offering provides a simple and cost-effective way to maximize earnings while maintaining security and efficiency. It is a step towards optimizing stablecoin holdings and enhancing the overall financial strategies for investors and treasurers.