Cronos will collaborate with Crypto.com and Onchain Lending Platform Morpho to expand decentralized financing and assets -tokenization on the Cronos -Blockchain.
Summary
- Cronos, Morpho and Crypto.com are planning to work together on an initiative aimed at strengthening Defi on the Cronos chain.
- The partnership will also investigate tokenization.
- Indigenous Cronos -Token CRO was in the midst of the news, initially by more than 13% to more than $ 0.22.
Cronos Labs announced The partnership on 2 October, which is noted in a press release that Crypto.com and Morpho will help to increase its blockchain ecosystem as a platform for capital-efficient lending and borrowing. The integration goes beyond the expansion of the decentralized financing loans. The platforms are focused on tokenization.
Why is the Cronos and Morpho Partnership Key otherwise?
The initiative is also aimed at scaling Cronos (CRO) as a platform for Defi for millions of users around the world, with Morpho (Morpho) expanding its onchain credit infrastructure further than Ethereum.
As part of the integration, Morpho will expand its safes to the product range of Crypto.com.
The platforms are also planning to add Stablecoin breeze markets, which are supported by various packaged assets, including crypto.com wrapped Bitcoin and Crypto.com wrapped Ethereum. CDCBTC and CDCeth are tokenized Bitcoin and Ethereum with which holders can participate in Defi in other blockchain networks.
Support for Morpho Vaults on crypto.com
Through integration, Crypto.com also integrates Morpho into its app and exchange platforms, which brings Morpho’s credit markets to more users within the CRO ECO system.
“Working with Morpho is an exciting milestone for our community,” said Mirko Zhao, head of Cronos Labs. “By working together to make borrowing and borrowing possible with packed assets, we immediately unlock use for users and also lay the foundation for tokenization and usage of institutional quality that are central to our long -term road card.”
Crypto.com is also planning to explore the integration of packaged Real-World assets as collateral within the safes of Morpho.
According to Ketat Sarakune, head of yield and assets growth on crypto.com, the launch of Morpho Vaults on crypto.com will be advanced Defi -credit options for millions of users worldwide. The markets use functions such as network speed, scalability and low costs.
CRO was one of the best -weighing tokens in the middle of the news, since the price rose more than 13% from lows from $ 0.20 to more than $ 0.22. The token traded around $ 0.21 at the time of writing.
