Swiss B2B bank InCore launches new tokenization tool with Tezos

Supported by Deutsche Boerse Digital asset firm Crypto Finance AG and Swiss business-to-business (B2B) transaction bank InCore are launc...



Supported by Deutsche Boerse Digital asset firm Crypto Finance AG and Swiss business-to-business (B2B) transaction bank InCore are launching a new blockchain-based tokenization tool Tezos.

InCore Bank officially announcement On Tuesday, a new collaboration with Crypto Finance AG and Swiss IT consulting firm Inacta to introduce new digital financial products based on Tezos, a decentralized and open source proof of stake (PoS) blockchain network.

The companies involved have developed a new Tezos token standard for asset tokenization based on the Tezos FA2 standard, a multi-asset interface for Tezos allowing developers invented types of tokens like non-fungible tokens (NFTs).

Using Tezos FA2, Inacta developed the new DAR-1 token standard, which aims to unlock new smart contract-compatible features to support financial markets, including anti-money laundering regulatory mechanisms. (AML) as well as asset governance.

In conjunction with the tokenization tool, InCore Bank also announced the upcoming launch of institutional level storage, staking and trading services for Tezos (XTZ). By using the integrated services of InCore Bank, financial institutions will be able to offer staking for their clients’ assets, allowing them to earn rewards generated by staking, or to participate in the validation of transactions by locking in transactions. XTZ tokens.

Related: FinTech Leonteq Expands Crypto Offerings in Europe

Stijn Vander Straeten, CEO of Storage Infrastructure at Crypto Finance Group, said the new collaboration is an example of how FA2 on Tezos is dramatically expanding tokenization opportunities. “The launch of these Tezos use cases for the financial industry today makes innovative and compliant on-chain financial products a reality,” added the CEO.