Hassan Maishera
On Monday, the VeChain team announced via X that it has partnered with Crypto.com to expand its institutional and custody support options. The crypto exchange will provide secure custody support for VeChain (VET) and VeThor (VTHO), the native tokens of the VeChainThor blockchain.
This collaboration expands institutional access to the VeChainThor network, a public blockchain enabling transparent information flow, efficient collaboration, and high-speed value transfers for everyday B2B and B2C applications.
Through this partnership, institutions can securely store, manage, and transact VET and VTHO using Crypto.com’s regulated, institutional-grade custody platform. The service offers multi-user permissions, customizable governance workflows, and insured custody solutions, meeting growing demand for scalable, low-cost, and compliant blockchain infrastructure.
VeChain Thor (VET) is a blockchain with the posited goal of solving real-world economic problems. VeChain leverages the Proof of Authority (PoA) consensus mechanism. PoA is a Byzantine Fault Tolerant probabilistic consensus mechanism based on HotStuff, which relies on Authority Masternodes (AM) associated with verified identities. VET is down 2% today and is currently trading at $0.02353.
