Finoa, a provider of banking-grade custody and asset servicing solutions for institutional investors in Digital Assets, has announced the integration of Tezos, a decentralized, public blockchain platform. This integration will enable Tezos users to deposit and earn secure and seamless Tezos (XTZ) rewards for their Digital Assets protected through Finoa’s regulated custody infrastructure.
This integration is crucial for Tezos in many ways. First, most of the asset managers, as well as institutional investors, find staking through self-custody and/or pure cold storage solutions risky and time-consuming. Second, self-custody restricts them from participating in advanced blockchain-protocol functionalities such as staking.
Moreover, most of the crypto exchanges neither support staking of Tezos (XTZ) nor provide Digital Assets security to users. Finoa’s Digital Assets custody platform will help Tezos expand its Digital Assets financial services while enabling higher levels of Digital Assets productivity.
What is Finoa Custody?
Finoa has developed the warm-storage Digital Asset custody technology, which enables its users to store their Digital Assets securely and manage their cryptocurrencies under the highest military-grade cryptographic standards while giving them 24/7 immediate asset accessibility. This multi-asset productivity stemming from the custody infrastructure serves as the foundation for a growing Digital Asset portfolio.
What Is Tezos (XTZ)?
Tezos is an open-source, decentralized blockchain network for assets and applications and has its own digital token called XTZ. Like Ethereum, Tezos also makes use of smart contracts. Instead of mining, Tezos relies on the proof-of-stake consensus mechanism, which creates incentives for token holders or rewards token holders for taking part in the core development process by evaluating, proposing, or approving network upgrades. This makes Tezos an ideal blockchain platform for digital securities.
To help Tezos (XTZ) token holders trade their cryptocurrencies or other Digital Assets and earn real money, there is a fully automated online trading software called CryptoCash. The software scans the crypto market, analyzes good deals for cryptocurrencies, and executes trading. Basically, the software buys cryptocurrencies at a low price and sells them when the price goes up.
Unlike self-custody, Finoa’s Digital Assets custody staking technology will allow its users to stake their tokens and deposit into the Tezos network. Finoa’s integration with Tezos will not only support custody and staking for XTZ but also enable its users to safely store their Digital Assets and earn rewards for their Digital Assets.