Bitcoin Suisse, a Zug-based crypto financial services firm, has added Tezos to its crypto custody, along with staking services for the digital currency.
Announced on Wednesday, the clients using the firm’s services can now store the proof-of-stake (PoS) digital currency on the Bitcoin Suisse Vault. With this, the platform is specifically targeting asset managers, fund managers, and high net worth individuals to store and receive staking rewards on Tezos deposits.
“Tezos was created with fundamental security features like formal verification that allow for institutional-grade smart contract security,” Roman Schnider, CFO and head of operations at the Tezos Foundation, said.
“We are excited to be adding XTZ to the Bitcoin Suisse Vault thereby making XTZ available for clients requiring a fully audited custody service. We are also very impressed by the development of the Tezos ecosystem and by including XTZ in our institutional-grade infrastructure are proud to contribute to that development.”
The announcement pointed out that offering custodial services with PoS-based cryptos requires “deep technical know-how, specific hardware and, in the case of large-scale investors, a suitable understanding [of] the pertinent risks.”
Increasing institutional demand for crypto
Bitcoin Suisse offers a number of crypto-related services including brokerage, lending, custody, and tokenization services to institutional clients. According to the company, its vault stores $1 billion in assets.
The platform is seeking fresh capital by selling 20 percent of its parent company at a pre-money valuation of $283 million.
Meanwhile, Tezos is gaining a lot of attention in the Blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term arena with the launch of its mainnet.
In April, multiple Swiss firms collaborated to launch a Bitcoin-backed payment token on Tezos blockchain.
“As more institutional adopters and investors get involved with the Tezos protocol, institutional-grade custody services such as Bitcoin Suisse’s PwC-audited Vault solution will be an integral part of the ecosystem,” Schnider added.
Bitcoin Suisse, a Zug-based crypto financial services firm, has added Tezos to its crypto custody, along with staking services for the digital currency.
Announced on Wednesday, the clients using the firm’s services can now store the proof-of-stake (PoS) digital currency on the Bitcoin Suisse Vault. With this, the platform is specifically targeting asset managers, fund managers, and high net worth individuals to store and receive staking rewards on Tezos deposits.
“Tezos was created with fundamental security features like formal verification that allow for institutional-grade smart contract security,” Roman Schnider, CFO and head of operations at the Tezos Foundation, said.
“We are excited to be adding XTZ to the Bitcoin Suisse Vault thereby making XTZ available for clients requiring a fully audited custody service. We are also very impressed by the development of the Tezos ecosystem and by including XTZ in our institutional-grade infrastructure are proud to contribute to that development.”
The announcement pointed out that offering custodial services with PoS-based cryptos requires “deep technical know-how, specific hardware and, in the case of large-scale investors, a suitable understanding [of] the pertinent risks.”
Increasing institutional demand for crypto
Bitcoin Suisse offers a number of crypto-related services including brokerage, lending, custody, and tokenization services to institutional clients. According to the company, its vault stores $1 billion in assets.
The platform is seeking fresh capital by selling 20 percent of its parent company at a pre-money valuation of $283 million.
Meanwhile, Tezos is gaining a lot of attention in the Blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term arena with the launch of its mainnet.
In April, multiple Swiss firms collaborated to launch a Bitcoin-backed payment token on Tezos blockchain.
“As more institutional adopters and investors get involved with the Tezos protocol, institutional-grade custody services such as Bitcoin Suisse’s PwC-audited Vault solution will be an integral part of the ecosystem,” Schnider added.
