Institutional Trust Drives Crypto.com's Strategic Expansion in Custody

Crypto.com has expanded its institutional custody offerings with two new partnerships, this time with the Axelar Foundation and Frax. As part of these agreements, the exchange will provide custody solutions for AXL, the native token of the Axelar cross-chain network, and FRAX, the native asset and gas token of the Fraxtal blockchain [2]. These partnerships underline Crypto.com’s position as a leading provider of secure, compliant, and liquid custody services to institutional clients [1].

Under the terms of the agreements, Axelar’s assets will be safeguarded through Crypto.com Custody, enhancing treasury management for validator incentives, ecosystem grants, and network operations. Georgios Vlachos, co-founder of the Axelar protocol, emphasized the importance of institutional-grade security in enabling seamless tokenization within blockchain ecosystems [2]. The collaboration is expected to support Axelar’s broader cross-chain infrastructure goals and provide institutional clients with enhanced access to its token.

Frax, a U.S.-based fintech firm known for its stablecoin and blockchain infrastructure, will also leverage Crypto.com’s custody platform to manage its FRAX token. This partnership enables institutions to securely access the token and participate in the Frax ecosystem, which is designed to support the GENIUS stablecoin framework [1]. FRAX plays a key role in securing the Fraxtal blockchain through validator staking and powering network operations, making its secure management a strategic priority for Frax. Through the collaboration, institutions will also gain access to broader Frax ecosystem services under a compliant and secure framework [1].

Eric Anziani, President and COO of Crypto.com, highlighted the importance of institutional custody in digital asset strategies, noting that the firm is committed to delivering infrastructure that meets the highest standards of compliance and operational integrity [2]. Crypto.com Custody offers a comprehensive, end-to-end solution for eligible institutions and high-net-worth clients, prioritizing security and regulatory alignment [1].

Frax founder Sam Kazemian emphasized the importance of trusted custody for institutional clients engaging with the Frax ecosystem, stating that the partnership allows for secure access to the FRAX token and supports the platform’s long-term goals in building open, stable, and borderless digital money [1]. The partnership also reflects Crypto.com’s broader strategy to expand secure access to digital assets for institutional participants.

The agreements with Axelar and Frax are part of a broader trend in the digital asset industry where institutional demand for secure and compliant custody services continues to grow. These developments align with Crypto.com’s mission to accelerate cryptocurrency adoption through institutional access and infrastructure innovation [1]. The firm has consistently emphasized the importance of security and regulatory compliance in supporting the next generation of digital financial services.

Source:

[1] Frax Selects Crypto.com for Secure Institutional Support (https://crypto.com/en/company-news/frax-selects-cryptocom-for-secure-institutional-support)

[2] Crypto.com provides custody solutions to Axelar Foundation and Frax (https://finbold.com/crypto-com-provides-custody-solutions-to-axelar-foundation-and-frax/)