In Brief:
- InCore Bank announces institutional grade, staking, and trading services for Tez (XTZ).
- InCore bank will be the first Swiss business-to-business bank to launch staking services for the Tezos network.
Switzerland’s three crypto-focused firms utilize the Tezos blockchain to provide tokenized assets to institutional clients.
According to the announcement, InCore Bank has a new collaboration with Crypto Finance AG and Swiss firm Inacta to introduce digital financial products based on Tezos. Tezos is open-source Proof of Stake blockchain network that offers security, reliability, and speed for the next generation of financial services.
In addition, InCore, Bank announced to launch of Institutional-grade storage, staking, and trading services for Tez (XTZ). In detail, the XTZ crypto is the native digital asset of the Tezos blockchain.
The involvement of 3 companies have developed a new Tezos token standard for asset tokenization built on Tezos FA2 standard. In addition, Inacta also developed the DAR-1 token that introduces by Crypto Finance. This DAR-1 is a standard on the Tezos blockchain that supports smart contracts. Through this, smart contracts on a network can fully power up the financial markets from anti-money regulations to asset governance.
“This work by Crypto Finance, InCore Bank, and Inacta is a tangible example of how FA2 on Tezos broadens the potential for tokenization significantly.” Stijn Vander Straeten, CEO of storage Infrastructure with the Crypto Finance Group, adds, “The launch of these Tezos use cases for the financial sector make innovative, compliant on-chain financial products a reality today.”
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Further, Tezos was chosen to power the new token standard for asset tokenization because of its on-chain governance.
InCore bank will be the first Swiss business-to-business bank to launch staking services for the Tezos network. InCore bank’s collaboration with Inacta is looking forward to launching several issuances on the Tezos network.
