Swiss blockchain firms Crypto Finance and Inacta, together with InCore Bank, have agreed to collaborate to create regulated Tezos-based tokenised products for institutional investors.
Thank you #InCoreBank and @inacta for another successful collaboration project! The innovative and compliant standard for asset #tokenisation of financial products (FA2) we have enabled together on @tezos is definitely shaping the #blockchain industry.https://t.co/vEENshU4Kh
— Crypto Finance (@CryptoFinanceAG) August 24, 2021
Partners will leverage the FA2 standard for tokenising financial products FA2 in Tezos into the DAR-1 solution. This enables developers to create new token types, including NFT.
The main goal of the new standard is to spur the emergence of new types of smart contracts focused on the financial market. Its features will include broad capabilities—from complying with AML requirements to asset management.
“Launching the new tooling will make innovative and regulation-ready on-chain financial products a reality for the financial sector already today”, — said Stijn Van der Straten, CEO of Crypto Finance.
The FINMA-regulated Incore Bank will also launch an institutional-focused platform for custody, staking and trading of XTZ, the native Tezos token.
Tezos operates on a Liquid Proof-of-Stake (LPoS) consensus mechanism. The Tezos Foundation is registered in the Swiss canton of Zug.
News from Switzerland have boosted demand for XTZ. Over the past 24 hours the asset has risen 4.8%, ranking behind only Solana (+6.3%) and Terra (+18.3%) in the top-50 by growth, according to CoinGecko. At the time of writing, the token was trading near $4.2. Its peak on 24 August rose above $4.4.
Earlier in August, Tezos activated the seventh protocol upgrade named Granada.
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