Crypto.com, a cryptocurrency payments platform, announced today that it has welcomed OS Limited (OSL) as its first settlement agent along with Paxos and TrustToken as stablecoin partners for the recently launched Crypto.com Chain.
The Crypto.com Chain is the native blockchain powering Crypto.com Pay, which allows users to pay or get paid in cryptocurrency.
Settlement agents in the Crypto.com Chain network will perform settlement between Crypto.com Chain CRO token and stablecoins.
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 an Asian based 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.
“Settlement agents and 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.”
– Kris Marszalek, Co-founder and CEO of Crypto.com