News

SCRYPT Partners with OpenTrade to Offer Money Market Access on USDC/EURC for Institutional Clients

exchange68September 19, 2024

0 1 3 minutes read

Zürich, Switzerland, September 19th, 2024, Chainwire

SCRYPT, a Swiss-licensed leader in institutional-grade crypto asset services, today announces a strategic partnership with OpenTrade, an institutional-grade platform for lending and yield products. The partnership will launch a product that allows SCRYPT clients to seamlessly invest USDC and EURC into tokenized U.S. Treasury Bills and E.U. Government Bonds.

The US Tokenized Treasuries industry has increased in value by 90% from $1.13 billion at the end of Q1 to $2.15 billion so far this quarter, according to rwa.xyz. Appealing to the growing demand from institutional investors and corporate clients, this offering provides secure, straightforward access to money market returns, eliminating the costs and complexities of traditional fiat on/off-ramps.

Through this partnership, SCRYPT clients can directly invest USDC or EURC from their segregated, SCRYPT-custodied wallets into these tokenized assets via OpenTrade. Institutional clients can participate in money markets on idle balances while enjoying the flexibility to move capital quickly and easily.

SCRYPT’s clients benefit from positions that are fully safeguarded and professionally managed via OpenTrade’s bank-grade off-chain operations and robust legal structure, specifically designed to meet the needs of institutional clients. Despite its recent launch, this product has already generated significant interest amongst clients.

Key features and benefits of the product include:

Participating with a volatility hedge: Institutional clients have the opportunity to participate in money markets that are hedged against crypto market fluctuations.
Exclusively backed by high-quality real-world assets: U.S. Treasury Bills and E.U. Government Bonds, secured through OpenTrade’s bankruptcy remote legal framework.
Streamlined treasury management: Managing on-chain treasury funds in USDC and EURC without the complexities of on/off-ramping into traditional fiat currencies or dealing with multiple accounts and platforms.
Immediate accrued interest: Attaining access to the market immediately upon subscription, with a maximum 48-hour withdrawal period to reclaim USDC or EURC.
Permissioned, tokenized platform: A secure, AML-compliant environment that mitigates smart contract risks and enhances overall security.

Dave Sutter, Co-Founder & CEO of OpenTrade, “It has been great to work with SCRYPT to deploy a solution that provides real utility value to their clients. Together, we are able to offer investment products that combine the benefits of stable money market returns, with the speed and flexibility of on-chain accounts and transactions, which combined afford clients with the simplest and most cost effective way to maximize earnings without introducing undue complexity. 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: “Our partnership with OpenTrade represents a significant milestone for SCRYPT and our institutional and corporate clients. Enabling investors and treasurers to earn interest on their USDC and EURC balances directly aligns with our mission to bridge traditional finance and crypto-assets. This offering underscores our commitment to providing secure, transparent, and efficient ways to optimize stablecoin holdings while maintaining the highest standards of institutional service.”

About SCRYPT

SCRYPT is a leading Swiss-licensed partner for institutional crypto solutions, providing seamless and secure management, trading, and custody of crypto assets.

To discover more: SCRYPT | [email protected]

About OpenTrade

OpenTrade is an institutional grade platform for real world asset backed USDC & EURC yield products. OpenTrade’s enterprise-grade platform has been purpose built to provide FinTechs with an out of the box solution that allows them to power USDC and EURC yield products for their users, that can be accessed with the click of a button, and are secured through OpenTrade’s bankruptcy remote structure, bank-grade operations, and time-tested legal framework.

To discover more: OpenTrade

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