21.co today announced the launch of 21.co Wrapped Tokens. The Company’s first wrapped tokens feature a mix of underlyings from the top crypto assets by market capitalization, across multiple blockchain networks. Wrapped tokens present the opportunity to increase cross-chain liquidity and utility regardless of blockchain ecosystem, and address the security challenges of cross-chain bridging. 21.co is uniquely positioned to deliver institutional grade security and liquidity at scale through the suite, bolstered by Onyx, 21.co’s proprietary product management system, which has created and redeemed over $3.3B in crypto-backed assets.
Effective cross-chain interoperability and liquidity allow members of the DeFi community to tap into a larger liquidity pool of assets without being limited to a single blockchain ecosystem. Greater accessibility leads to a greater ability to scale DeFi as a whole. Historically, cross-chain interoperability has been a technical hurdle for the DeFi community. Solutions like cross-chain bridge protocols have proven to be vulnerable to security hacks, posing a significant threat not only to assets but to trust in blockchain technology.
The new 21.co Wrapped Tokens introduce cross-chain liquidity for the most popular alt-layer one protocol tokens in the Ethereum ecosystem, securely. Onyx, developed by 21.co, ensures minting and burning processes are executed swiftly and securely. 21.co Wrapped Tokens are 100% physically collateralized, and underlying assets are held in cold storage by institutional-grade custody.
“DeFi needs cross-chain interoperability to be successful, but up until this point existing solutions have been plagued by serious security vulnerabilities,” said Hany Rashwan, co-founder and CEO at 21.co. “We firmly believe DeFi is the future, and have long been committed to bridging traditional finance and decentralized finance with our experience and our products. With the launch of centralized wrapped assets, we are thrilled to be offering a much-needed technology to the DeFi community that will help DeFi continue to win.”
The Index Coop will be the first organization to offer a multiple-blockchain index token - Index Coop Large Cap Index (IC21) powered by 21.co Wrapped Tokens. With 21.co’s technology, the IC21 Token brings a number of non-EVM blockchain tokens to the Ethereum network.
21.co Wrapped Tokens include:
- 21BTC - 21.co Wrapped Bitcoin
- 21BNB - 21.co Wrapped BNB
- 21XRP - 21.co Wrapped XRP
- 21ADA - 21.co Wrapped Cardano
- 21SOL - 21.co Wrapped Solana
- 21LTC - 21.co Wrapped Litecoin
- 21DOT - 21.co Wrapped Polkadot
- 21BCH - 21.co Wrapped BitcoinCash
To learn more about 21.co Wrapped Tokens, please visit https://21.co/tokens
About 21.co
21.co is the world’s leader in providing access to crypto through TradFi and DeFi. 21.co offers cryptocurrency exchange traded products (ETPs) via its 21Shares affiliate, as well as blockchain infrastructure technology. 21.co’s products are built on its proprietary operating system, Onyx, which is also distributed to third parties. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. For more information, please visit www.21.co.
Press Contact
Nicole Cueto, press@21.co
Disclaimer
The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the U.S. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness or availability of the information provided and 21.co and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof.
World’s largest issuer of cryptocurrency ETPs releases the 21Shares Staking Basket Index ETP in collaboration with index provider Vinter
ZURICH January 18, 2023 – 21Shares AG ("21Shares"), the world's largest issuer of cryptocurrency exchange traded products (ETPs) and a subsidiary of 21.co, today unveiled the 21Shares Staking Basket Index ETP (Ticker: STAKE) – the world’s first crypto staking index ETP offering diversified staking income. The index represents the first-ever basket product of crypto assets that provide exposure to staking rewards while tracking the performance of underlying staked cryptos through a single ETP. The 21Shares staking index methodology used for this product was built in collaboration with Swedish index provider Vinter.
The 21Shares Staking Basket Index ETP tracks proof-of-stake (PoS) cryptocurrencies, including Binance Coin, Cardano, Cosmos, Polkadot, Solana, and Tezos. The index will rebalance on a semi-annual basis in March and September to reflect market shifts.
“Staking is a long-standing feature of the blockchain ecosystem that allows crypto holders to earn rewards in exchange for locking up their assets,” said Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares. “Our research has shown that investors are interested in diversified, crypto-native return streams – especially amid crypto winter. In particular, we’ve heard demand for a reliable and safe way to access staking, one of the most attractive potential return streams available in the crypto ecosystem. The 21Shares Staking Basket Index ETP does just that, and will be an attractive addition to many portfolios.”
The 21Shares Staking Basket Index ETP is available today for trading on the BX Swiss exchange, and is seeking to list on Xetra Deutsche Boerse. This launch follows the success of 21Shares’ existing single asset staking products – 21Shares Solana Staking ETP and 21Shares Tezos Staking ETP.
Jacob Lindberg, CEO of Vinter, adds “We are pleased to be launching the world’s first crypto staking index ETP with 21Shares, which is another milestone in our great partnership. This product addresses demands from retail and institutional investors globally, and we look forward to continuing our work with 21Shares as they seek to launch more innovative investment products that build bridges into the crypto world.”
Today’s announcement is the latest in a string of innovative ETPs offerings from 21Shares over the last year, including the world’s cheapest Bitcoin ETP (CBTC), as well as two risk-controlled products, the 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC) and 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH). 21.co now lists 47 products across 12 exchanges in 9 countries.
To learn more about the 21Shares Staking Basket Index ETP, please visit 21shares.com/product/STAKE.
- Name ETN - 21Shares Staking Basket Index ETP
- ISIN - CH1210548892
- Ticker - STAKE BW
- Listing Currency - CHF
- Exchange - BX Swiss
- Listing Date - 18.01.2023
Press Contacts:
Arielle Sobel, Head of Global Communications, press@21.co
Megan Enright, Communications Manager, press@21.co
About 21.co:
21.co is the world’s leader in providing access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21.co is registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit 21.co.
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