Crypto.com Expands Institutional Custody to XYO After $20B Valuation
Crypto.com is expanding its institutional-grade custody services to include native tokens of the XYO ecosystem, a decentralized physical infrastructure network (DePIN), as institutional interest in infrastructure projects grows.
The custody expansion allows eligible institutional investors and high-net-worth clients to hold XYO ecosystem tokens through Crypto.com Custody, the company announced Monday.
Crypto.com said its custody platform will support both XYO and XL1, which are part of the XYO Network dual-token model. XYO secures and incentivises data validation across the network , while XL1 is the network’s Layer-1 blockchain token that powers transactions and network operations.
“Digital asset organizations require a custodial solution that delivers both unmatched security and seamless liquidity,” said Eric Anziani, President and COO of Crypto.com. “We are pleased to support XYO by ensuring their ecosystem is safeguarded with institutional-grade custody and ready for global scale,” he added.
The custody support gives institutions, enterprises, family offices, and family funds that already hold assets with Crypto.com a compliant way to add XYO and XL1 without managing their own private keys, a requirement that has kept many regulated allocators from holding tokens outside a custodian’s supported list. The company added that client assets will be held in segregated MPC wallets within a bankruptcy-remote entity, allowing institutions to trade through its institutional platform while assets remain in custody.
XYO operates as the first DePIN Network, and blockchain project with over 10 million nodes.
Citadel Backs Crypto.com’s Institutional Push
Earlier this month, Citadel Securities Invested a $400 million investment into Crypto.com at a $20 billion valuation, providing fresh capital to expand the company’s institutional business, including tokenized securities and derivatives.The funding came amid a broader shift across institutional crypto markets. After years of focusing primarily on Bitcoin and Ethereum, institutional infrastructure providers are increasingly supporting a wider range of blockchain ecosystems as tokenization, DePIN, and AI-related blockchain projects gain attention.
In tokenization, products such as BlackRock’s BUIDL and Ondo Finance’s tokenized Treasury offerings have helped bring traditional financial assets onchain, while platforms like Securitize have facilitated billions of dollars in tokenized assets.
Crypto.com Deepens US Regulatory Footprint
The custody expansion also follows Crypto.com’s growing regulatory push in the United States. Earlier this year, the company received conditional approval from the Office of the Comptroller of the Currency to establish Crypto.com National Trust Bank, joining a small group of crypto firms pursuing federally regulated trust structures for institutional custody.
Last year, Sony Electronics Singapore also partnered with Crypto.com to enable USDC payments on its online store, allowing customers to purchase electronics directly with the dollar-pegged stablecoin.
Alongside the Sony integration, the exchange continued expanding its institutional and consumer offerings, including plans to launch crypto-focused ETFs with Trump Media and extending crypto payment options to more mainstream businesses.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
TNG – Latest News & Reviews
