SCRYPT Collaborates with OpenTrade to Provide Money Market Access on USDC/EURC for Institutional Clients

Zürich, Switzerland, September 19th, 2024

SCRYPT, a leader in institutional-grade crypto asset services licensed in Switzerland, has announced a strategic partnership with OpenTrade, a platform specializing in lending and yield products for institutional clients. This collaboration aims to introduce a product that enables SCRYPT clients to invest USDC and EURC directly into tokenized U.S. Treasury Bills and E.U. Government Bonds.

The market for tokenized U.S. Treasuries has seen remarkable growth, increasing from $1.13 billion at the end of Q1 to $2.15 billion in the current quarter, reflecting a 90% rise. This new offering caters to the heightened interest from institutional investors and corporate clients by providing secure and straightforward access to money market returns while bypassing the complexities associated with traditional fiat on/off-ramps.

Through this partnership, clients of SCRYPT can invest USDC or EURC from their dedicated, SCRYPT-custodied wallets into these tokenized assets via OpenTrade. This setup allows institutional clients to engage in money markets using idle balances, offering the flexibility of rapid capital movement.

SCRYPT clients will enjoy fully safeguarded positions managed through OpenTrade’s robust off-chain operations and legal framework, which are tailored to meet institutional requirements. Although this product has only recently launched, it has already attracted considerable client interest.

Key features and benefits of the product include:

• Volatility Hedge: Institutional clients have the opportunity to engage in money markets that are protected against crypto market fluctuations.
• High-Quality Backing: Investments are exclusively supported by U.S. Treasury Bills and E.U. Government Bonds, secured via OpenTrade’s legal framework designed to be remote from bankruptcy risks.
• Simplified Treasury Management: Clients can manage on-chain treasury funds in USDC and EURC without the hassle of converting to traditional fiat currencies or navigating multiple accounts and platforms.
• Immediate Interest Accrual: Clients gain immediate market access upon subscription, with a maximum 48-hour withdrawal period to retrieve USDC or EURC.
• Secure, Tokenized Platform: The offering exists within a secure, AML-compliant environment, minimizing smart contract risks while enhancing overall security.

Dave Sutter, Co-Founder & CEO of OpenTrade, remarked, “Partnering with SCRYPT has allowed us to deploy a solution that genuinely adds value for their clients. Together, we’re providing investment products that combine stable money market returns with the efficiency of on-chain transactions, enabling clients to maximize earnings without unnecessary complexity. We’re excited about the early interest we’ve seen from SCRYPT’s clients and look forward to supporting their growth.”

Norman Wooding, Founder & CEO of SCRYPT, stated, “Our collaboration with OpenTrade marks a significant advancement for SCRYPT and our institutional and corporate clients. Allowing investors and treasurers to earn interest on their USDC and EURC balances aligns perfectly with our mission to merge traditional finance with crypto-assets. This offering reaffirms our commitment to delivering secure, transparent, and efficient mechanisms for optimizing stablecoin holdings while adhering to the highest standards of institutional service.”

About SCRYPT

SCRYPT is a premier Swiss-licensed provider of institutional crypto solutions, specializing in the secure management, trading, and custody of crypto assets.

About OpenTrade

OpenTrade is an institutional-grade platform focused on real-world asset-backed yield products for USDC and EURC. Its enterprise-grade platform is designed to provide FinTech clients with an efficient solution for powering yield products that are easy to access and secured through a robust legal and operational framework.

The information presented is not a recommendation for investment or trading strategies and does not constitute an investment offer. It is provided solely for informational purposes. Any decisions made based on this content are the sole responsibility of the individual.

Contact:
Jacob McGoldrick
Junior Consultant
CW8 Communications
[email protected]