Crypto.com recently announced its integration with the Sei Network, enhancing institutional custody services for managing and holding SEI assets. This partnership aims to bolster user trust and open new opportunities for validators and funds within the Sei blockchain ecosystem.
Crypto.com Enters Partnership with Sei Network
Crypto.com has officially integrated Sei into its institutional custody network, allowing businesses and merchants a secure option to manage and hold SEI assets. This collaboration is designed to enhance user confidence and unlock new opportunities for validators, funds, and treasuries within Sei’s blockchain.
By utilizing Crypto.com Custody, top-tier institutions and high-net-worth clients benefit from state-of-the-art security features. The exchange has now leveraged Sei’s capabilities, providing institutional-grade cold storage options that ensure compliance.
Implications for Sei Network
Since its mainnet launch in 2023, Sei has positioned itself as a significant player in the Layer 1 sector, promoting on-chain financing and high-speed trading. The network currently supports nearly 50 million wallets and processes billions of transactions.
Recently, Sei integrated PayPal’s stablecoin to encourage cryptocurrency adoption globally, signaling growing institutional interest. The network requires top-tier security to maintain smooth operations, especially in an expanding staking environment.
According to recent reports, SEI stakeholders celebrated achieving their first positive returns as the blockchain flourishes. Crypto.com’s custody solutions offer innovative tools to ensure asset security for large-scale investors, managing SEI assets for treasury operations and validator incentives while minimizing risks.
Future Developments: Sei V3 Giga Upgrade
The integration with Crypto.com coincides with Sei’s preparations for the V3 Giga upgrade, aimed at providing innovative scaling solutions for Ethereum-compatible applications. This update is targeted to democratize Web3, promising 200,000 transactions per second (TPS) with sub-400ms finality.
Sei is about to flip the switch on its Giga Upgrade. @SeiNetwork is aiming for 200,000 TPS with sub-400ms finality.
That’s 50x today’s ceiling and would make $SEI the fastest EVM chain in existence.
SEI Price Outlook
The native token of Sei Network has faced downward trends recently, losing nearly 4% in the past 24 hours to a price of $0.3254. Broader market conditions have contributed to recent declines as cryptocurrencies have struggled after losing momentum following recent FOMC gains.
Despite current challenges, analysts predict robust rebounds in upcoming sessions, particularly during the anticipated “Uptober”. The potential institutional use cases could drive explosive growth for SEI if market conditions improve.
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