Digital asset company supported by Deutsche Börse Crypto Finance AG and the Swiss business-to-business bank InCore are launching a new tokenization tool based on the Tezos blockchain.
InCore Bank officially announced a new partnership with Crypto Finance AG and the Swiss IT consultancy Inacta on Tuesday new digital financial products based on Tezos, a decentralized blockchain network, open source and with proof-of-stake protocol.
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 that enables developers to invent token types as non-fungible tokens.
With Tezos FA2, Inacta has developed the new DAR-1 token standard, which aims to unlock new smart contract-enabled functions to support the financial markets, including regulatory mechanisms to combat money laundering and asset governance.
Along with the tokenization tool, InCore Bank has also announced the upcoming launch of institutional warehousing, staking and trading services for Tezos (XTZ). By using InCore Bank’s integrated services, financial institutions can stake their customers’ fortunes so that they can earn rewards generated through sktaing or take part in transaction validation by blocking XTZ tokens.
Stijn Vander Straeten, CEO of Crypto Finance Group’s storage infrastructure, said the new collaboration is an example of how FA2 significantly expands tokenization possibilities at Tezos. “The introduction of these use cases by Tezos for the financial sector makes innovative and compatible on-chain financial products a reality today,” added the executive.