VerifiedX just locked down a partnership with Crypto.com that’s worth paying attention to. Crypto.com will handle institutional-grade custody and liquidity support for $1.5 billion in assets on the VerifiedX network, plus provide OTC trading capabilities. For a network that bills itself as “the people’s network,” bringing in enterprise-level infrastructure is a pretty significant move.
The deal means institutions using VerifiedX can now store and manage digital assets through Crypto.com’s regulated custody platform. We’re talking multi-user permissions, customizable governance workflows, insured custody—the kind of setup that makes compliance officers sleep better at night. It’s infrastructure built for institutions that need more than just “we’ll keep your crypto safe, trust us.”
Jump Ahead To:
Why This Partnership Makes Sense
VerifiedX has been pushing hard on self-custody and Web3 wallet infrastructure. Their whole pitch revolves around making custody seamless and accessible while keeping users in control of their assets. But here’s the thing—institutions have different needs than retail users. They need regulatory compliance, they need insurance, they need workflows that satisfy auditors and risk committees.
That’s where Crypto.com comes in. Eric Anziani, President and COO, put it plainly: “Crypto.com Custody is specifically designed with expectations of institutional-grade clients. We are pleased to be selected by VerifiedX, a leader in self-custody and digital asset wallet capabilities, to further enhance an established custody offering for all client needs.”
Ron Rodriguez, official representative of The VerifiedX Foundation, framed it as an extension of their mission: “As the people’s network, the mission is clear—to make custody seamless, secure, and globally accessible. Partnering with Crypto.com significantly elevates that very ethos with best in class custody and liquidity infrastructure.”
It’s a smart play, honestly. VerifiedX gets enterprise credibility and institutional infrastructure without having to build it themselves. Crypto.com expands its custody business into a growing Layer-1 network that’s positioning itself as both a universal blockchain and a Bitcoin-specific sidechain.
What VerifiedX Is Actually Building
If you’re not familiar with VerifiedX, here’s the quick version: it’s an open-source decentralized network that functions as a Layer-1 blockchain and a Bitcoin sidechain. The interesting part is their Verified Bitcoin Token (vBTC), which maintains a 1:1 peg with Bitcoin while adding smart contract functionality and asset recovery features.
The network’s designed for tokenized self-custody, on-chain storage, and peer-to-peer commerce. Their native VFX coin lets users mint vBTC, which basically means you can use Bitcoin in ways regular Bitcoin doesn’t support—programmable transactions, DeFi interactions, that kind of thing—while theoretically maintaining the security and value of actual Bitcoin.
VerifiedX is also pushing their Switchblade Wallets pretty hard. Earlier this year, they integrated Crypto.com Pay and on-ramp services directly into those wallets, so users could buy crypto and make payments without leaving the app. Now with custody and OTC trading added to the mix, the ecosystem’s starting to look more complete.
Does the “People’s Network” Label Still Fit?
There’s something slightly ironic about a project calling itself “the people’s network” while simultaneously partnering with institutional custody providers for $1.5 billion in assets. Not that it’s a bad move—it’s just a reminder that even populist-sounding crypto projects need institutional backing to scale.
To be fair, VerifiedX seems to be trying to walk both lines. They’re maintaining the self-custody ethos for retail users while building parallel infrastructure for institutions that need regulated solutions. Whether you can genuinely be both the people’s network and an institutional-grade platform is an open question, but they’re certainly trying.
The custody service is only available to “eligible institutions and high-net-worth clients,” so we’re not talking about your average crypto holder getting access here. This is enterprise infrastructure that happens to run on a network with retail-friendly features.
What This Means Going Forward
Crypto.com’s been around since 2016 and has carved out a solid position in the custody space. They’ve got the regulatory compliance, the security infrastructure, and the insurance frameworks that institutions require. VerifiedX gets all of that without building it from scratch, which frees them up to focus on what they’re supposedly good at—wallet infrastructure and self-custody solutions.
The OTC trading capabilities are a nice bonus. Institutions moving large amounts of crypto don’t want to hit the open market and move prices against themselves. Having direct OTC access through Crypto.com means cleaner execution and better pricing for big trades.
Whether this partnership actually drives meaningful institutional adoption of VerifiedX remains to be seen. Custody infrastructure is necessary but not sufficient—institutions also need compelling reasons to use the network in the first place. But at least now when VerifiedX pitches institutional clients, they can point to Crypto.com and say they’ve got proper custody and liquidity solutions in place. That’s worth something.