Digital asset management firm Finoa has announced a partnership with Ethereum based BaaS platform SKALE Network. In a tweet on Wednesday, Finoa stated that it would provide institutional class custody solutions to the SKALE token, SKALE Network’s native cryptocurrency.
We are pleased to announce our partnership with @SkaleNetwork to provide institutional-grade custody support for SKALE!
— Finoa (@Finoa_Banking) November 4, 2020
Finoa is one of the leading names in the digital asset banking segment and functions as a standardized custodian and staking service provider of digital assets, serving institutional and professional investors. Commenting on their partnership with SKALE Network, Co-founder and CEO of Finoa, Christopher May, said that this would allow investors to securely store and stake SKALE tokens with the digital asset banking platform.
May further that SKALE Network’s innovative architecture will solve the speed and performance issues within the Ethereum ecosystem and provide developers with tools to build innovative next-gen applications. SKALE Labs CEO Jack O’Holleran said that partnering with Finoa helps them offer an ecosystem of a host of products for every possible interaction with their network participants.
Further, he said that SKL holders would have a secure and compatible way to hold and manage their tokens using Fiona’s user-friendly digital asset custody solutions while maintaining easy access within the network.
Crypto staking is one of the most important aspects of the DeFi segment; however, custodial services remains an issue, preventing the market from attaining full potential. With Finoa powering innovative projects like SKALE Network will provide the much-needed staking and custodial infrastructure to the industry.