VerifiedX to Manage $1.5B in Assets via Crypto.com Custody & OTC
VerifiedX has partnered with Crypto.com to leverage its institutional-grade custody and OTC liquidity solutions to manage $1.5 billion in digital assets. As a decentralized Layer 1 network and Bitcoin sidechain, VerifiedX supports self-custodied vBTC issued on a 1:1 anchor. This collaboration marks the second time this year the two firms have joined forces. The announcement, reported by The Block, drove the VFX token price up by almost 70%. Crypto traders may view this as a sign of growing institutional confidence in VerifiedX’s technology and increased market liquidity. The deal underscores broader trends in crypto asset management, where established exchanges like Crypto.com are expanding into custody services for Layer 1 networks and sidechains.
Bullish
The partnership with Crypto.com enhances VerifiedX’s institutional-grade custody and OTC liquidity capabilities, driving a nearly 70% surge in VFX token price. Similar past collaborations between major exchanges and emerging blockchain projects have catalyzed market rallies by boosting both liquidity and investor confidence. In the short term, traders may witness continued price momentum in VFX and related tokens. Over the long term, this deal could attract more institutional capital to VerifiedX’s Layer 1 network and vBTC sidechain, reinforcing network adoption and stability. Overall, the announcement signals a positive shift in market sentiment and resource access for VerifiedX.