January 12, 2022 – 21Shares AG (“21Shares”), the world’s largest cryptocurrency ETP issuer, today announced the listing of the world’s first crypto ETP on the Terra blockchain in CHF, EUR and USD on SIX Swiss Exchange.
Terra (ISIN: CH1145931015, mnemonic: LUNA) is the second largest ecosystem in the world after Ethereum, with a total locked-in value of $ 18.8 billion (TVL). TVL is the key metric to describe the number of assets involved in a blockchain protocol.
- 21Shares Terra ETP provides a solution for investors seeking access to an alternative ecosystem that is not based on the Ethereum Virtual Machine (EVM).
- Terrafor Labs was founded in 2018 by Daniel Shin, co-founder of TicketMonster, a South Korean e-commerce platform, and Do Kwon, a former Microsoft and Apple software engineer.
- The Terra ecosystem includes DeFi (decentralized finance) infrastructure, financial tool applications and NFT solutions. The most important innovation of the ecosystem is its DeFi Anchor solution. The Anchor Protocol generates very attractive returns for investors with borrowing and lending solutions.
- The underlying Terra blockchain technology allows up to 10,000 transactions per second (TPS) and with a transaction time of 2 seconds. In contrast, Ethereum processes 15 to 30 transactions with a transaction time greater than 1 minute. Finally, the transaction costs are very low.
Hany Rashwan, CEO of 21Shares, said, “We have been following the Terra ecosystem for a long time and have been very impressed with its development and traction. We are delighted to offer investors the world’s first listed ETP that tracks this innovative product.
As of January 2022, 21Shares managed over $ 2 billion in 22 cryptocurrency ETPs and 83 listings, including the only ETPs in the world to follow Binance, 4 crypto index baskets and two ETPs with investor stake rewards. (Tezos and Solana). Its products are listed on ten regulated European and Swiss stock exchanges.
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21Shares takes innovation to the next level with the world’s largest portfolio of cryptocurrency exchange traded (ETP) products. In 2018, he pioneered the world’s first cryptocurrency index listing on the SIX Swiss Exchange, and he continues to fuel his cryptocurrency franchise with cutting-edge research and groundbreaking approaches to product strategy. 21Shares aims to provide all investors with a simple, secure and regulated way to buy, sell and short sell cryptocurrency through existing bank and brokerage accounts. 21Shares’ issuance platform, Onyx, is used by both 21Shares and third parties to issue and mine cryptocurrency ETPs around the world. For more information, please visit www.21shares.com.
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