3 companies create a new tokenization tool based on Tezos (XTZ)

Tezos continues to appeal to institutional investors

In a joint press release, Crypto Finance, InCore Bank and Inacta indicate that they have retained the Tezos (XTZ) blockchain to create on-chain digital financial products that comply with various regulations.

The 3 Swiss fintechs have thus developed a new token standard for Tezos, based on the FA2 infrastructure of this blockchain, which allows developers to design new types of tokens.

This new standard, called DAR-1, aims to introduce features dedicated to financial markets, in addition to anti-money laundering mechanisms.

“This work by Crypto Finance, InCore Bank and Inacta is a tangible example of how [la norme] Tezos’ FA2 dramatically expands the potential of tokenization. The launch of these Tezos use cases for the financial industry makes innovative and compliant on-chain financial products a reality today, ”added Stijn Vander Straeten, Crypto Finance executive.

The companies explain that Tezos was selected because its on-chain governance allows updates to be made without disrupting or dividing the network.

👉 Find our explanatory sheet of the Tezos blockchain and the XTZ

New offers linked to Tezos

Simultaneously with the creation of this tokenization tool, InCore Bank will very soon launch many solutions related to the Tezos blockchain. The Swiss bank will offer its institutional clients a storage and staking service for XTZ.

Since it is a B2B bank, InCore Bank is targeting in particular other companies, which will be able with some ease to offer all these same services to their customers. Already adopted by large groups such as Société Générale, EDF, or even Ubisoft, the Tezos blockchain continues to be institutionalized.

“This collaboration between the main Swiss blockchain and finance players paves the way for banking services designed for the future, minimizing traditional issues that involve additional costs and complications,” adds InCore Bank.

Shortly after the announcement of this initiative, the price of XTZ climbed slightly to reach 4.43 dollars, a threshold it had not reached since last May.

👉 On the same theme – Société Générale issues a security token on the Tezos blockchain (XTZ)

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About the author: Clément Wardzala

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.

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