Sei Partners with Crypto.com for Institutional-Grade Token Custody

The Sei network has partnered with Crypto.com to provide institutional-grade custody for its native token, Sei. This partnership enhances security and regulatory compliance, catering to institutional investors' needs.

The integration offers regulated cold storage solutions, announced by Crypto.com on September 19.
Eric Anziani from Crypto.com emphasized the importance of institutional custody for blockchain growth.
Justin Barlow from the Sei Development Foundation highlighted the partnership's role in expanding Sei's infrastructure for institutional investors.

Competition Among Layer 1s for Institutional Capital

Sei enters a competitive space among Layer 1 blockchains attracting institutional investment.
Regulated custody is crucial for large investment firms due to security and compliance concerns.
Solana has seen increased institutional interest, with firms like Galaxy Digital accumulating over a billion dollars in tokens.
Other blockchains, such as Aptos, are also enhancing their ecosystems with DeFi offerings like Aave's deployment.

Sei's partnership with Crypto.com positions it within a market seeing new developments, including Google's blockchain for digital payments and Circle's stablecoin-focused L1 blockchain.