Crypto.com partners with Sei network to bolster institutional security and access.

Summary

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Crypto.com has partnered with Sei Network to enhance institutional custody of crypto assets, facilitating better security and access for enterprises and traders. This collaboration aims to bolster user confidence and unlock new opportunities within the Sei blockchain ecosystem.

Crypto.com Expands Support for Sei Network

• The exchange platform now supports Sei’s native token with compliant cold storage.
• Institutions can securely manage SEI for ecosystem growth, cash management, and staking.
• Accelerated institutional adoption will fuel Sei’s expansion.

Crypto.com has officially integrated Sei into its institutional custody network, providing businesses and traders a secure option for managing and holding SEI assets. This partnership is designed to enhance user trust and create new opportunities for validators, funds, and treasuries within the Sei blockchain.

Crypto.com Custody offers top-tier custody services to leading institutions and high-net-worth clients with industry-leading security. The platform has now leveraged Sei’s capabilities.

Importance for Sei Network

Since its mainnet launch in 2023, Sei has established itself as a notable player in Layer 1 (L1), emphasizing on-chain financing and high-speed trading. The SEI network supports nearly 50 million wallets and processes billions of transactions.

Recently, the blockchain has integrated PayPal’s stablecoin to promote cryptocurrency adoption in global finance, indicating a growing institutional interest in Sei. The platform requires top-notch security for seamless operations, especially in a flourishing staking environment.

According to Messari, SEI stakers recently celebrated their first positive yields as the blockchain thrives. Crypto.com Custody ensures security through innovative tools, offering compliant cold storage of institutional quality for large-scale investors managing SEI assets.

The Sei development team praised Crypto.com’s action as a critical step toward greater adoption.

We are thrilled to see another leading provider of institutional-grade custody solutions choose to support the Sei network. With Crypto.com Custody, institutional investors will have another tool to interact with Sei securely and compliantly.

Upgrading to Sei V3 Giga

The integration with Crypto.com comes as the network prepares for the V3 Giga upgrade, designed to deliver innovative scaling solutions for Ethereum-compatible applications, aiming for 200,000 transactions per second (TPS) with a finality of less than 400 ms.

With the secure custody, Sei can attract increased liquidity from institutions and expand its validator set.

SEI Price Outlook

Currently, Sei Network’s native token has mirrored the broader recent declines in the market, losing nearly 4% over the last 24 hours, trading at $0.3254. Cryptocurrencies faced a market downturn following recent gains from the FOMC.

However, analysts predict strong rebounds in the sessions ahead, especially during the anticipated “Uptober.” Institutional use cases are expected to support explosive growth for SEI if the market rallies significantly.