TechFlow news — 21.co, the parent company of crypto exchange-traded product (ETP) provider 21Shares, has announced the launch of eight wrapped tokens, including Bitcoin, BNB, XRP, and Cardano. These wrapped tokens are built on its proprietary operating system, Onyx.
Wrapped tokens are digital assets that represent the exact value of native cryptocurrencies on different blockchains. They enable cross-chain compatibility, allowing assets like Bitcoin to operate on Ethereum and be used within decentralized finance (DeFi) applications. This enhances cross-chain liquidity and expands the utility of crypto assets.
The decentralized crypto index community Index Coop will launch a new index powered by 21.co's wrapped tokens. Named the Index Coop Large Cap Index (IC21), it will provide access to a range of 21.co wrapped tokens through a single IC21 token. Specifically, the token will offer exposure on the Ethereum network to assets from non-Ethereum Virtual Machine (EVM) blockchains.
