Crypto.com now provides institutional-grade custody for the Sei network. The move is a strategic step in the heated competition among Layer 1 blockchains.
By Zoran Spirkovski
Editor Hamza Tariq
Updated
2 mins read
The Sei network SEI $0.33 24h volatility: 0.6% Market cap: $2.02 B Vol. 24h: $243.45 M has partnered with Crypto.com CRO $0.23 24h volatility: 3.9% Market cap: $8.10 B Vol. 24h: $48.02 M to offer institutional-grade custody, providing secure storage for the network’s native Sei token.
The service adds a layer of security and regulatory compliance to the Sei ecosystem, a requirement for many institutional investors.
According to a press release from Crypto.com on September 19, the integration provides a regulated, cold storage solution, satisfying the requirements.
Eric Anziani, President and COO of Crypto.com, stated that institutional custody is a foundation for growing blockchain ecosystems.
Justin Barlow of the Sei Development Foundation remarked that the partnership gives institutions another secure tool to interact with the network. The collaboration expands Sei’s infrastructure for institutional-scale investors.
The partnership places Sei within a competitive field of Layer 1 blockchains seeking to attract institutional investment.
Access to regulated custody is a prerequisite for many large investment firms, which often avoid ecosystems that lack compliant infrastructure due to security and regulatory concerns.
By providing a regulated storage option through Crypto.com, Sei can more directly appeal to these larger market participants.
Solana SOL $241.5 24h volatility: 2.3% Market cap: $131.06 B Vol. 24h: $9.08 B , for instance, has attracted institutional interest throughout the year. A network upgrade proposed in July to boost capacity coincided with large holders accumulating the token.
More recently, investment firms like Galaxy Digital have been acquiring Solana, adding over a billion dollars worth to its treasury in early September.
The ecosystem is also developing regulated financial products, such as the Solana ETPs launched by Bitwise on the SIX Swiss Exchange this month.
Other high-performance blockchains are similarly focused on ecosystem development. In August, the Aptos APT $4.62 24h volatility: 0.2% Market cap: $3.23 B Vol. 24h: $704.14 M blockchain expanded its DeFi offerings when, as one report detailed, Aave AAVE $305.7 24h volatility: 0.7% Market cap: $4.65 B Vol. 24h: $392.43 M debuted on Aptos in its first deployment on a non-EVM chain. The presence of established DeFi protocols can increase a network’s liquidity and utility.
Sei’s integration with Crypto.com occurs in a market that includes new entrants from the technology and finance sectors.
This summer, news revealed that Google Cloud is building a blockchain for digital payments, while USDC-issuer Circle announced its own L1 blockchain for stablecoin finance.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
