11.4 C
September 22, 2020
Image default

Bitcoin Suisse Adds Tezos (XTZ) to PwC Certified Safe Due to Storage Service Demand for Institutional Investors

Tezos added to Bitcoin Suisse’s PwC vault

Bitcoin Suisse, a major Swiss cryptocurrency broker and custody company, announced that it will also support staking by adding cryptocurrency Tezos (XTZ) to a PwC-certified vault (standard ISAE3402).

Bitcoin Suisse provides a custody system certified by the major accounting firm PwC (ISAE 3402 standard) to institutional and large investors. It handles bitcoins, Ethereum, ERC20 tokens, XRP, etc., and it has already stored virtual currency (cryptographic assets) worth 1 billion dollars.

The Tezos staking service has been available since July 2018, but is now officially available in a PwC-certified vault. With this move, the XTZ will be protected by a more secure system. As of May 21, the annual interest rate for staking listed on the service chart is 5.6%.

“We are impressed with the evolution of the Tezos ecosystem,” said Philipp Vonmoos, head of custody at Bitcoin Suisse. We believe that adding the virtual currency XTZ to the institutional infrastructure will also contribute to the Tezos ecosystem. , Commented.

According to the official announcement, Bitcoin Suisse applied for a PwC-certified vault because it saw high demand for institutional-focused custody. Since stocks other than Tezos are also stored in ISAE3402, etc., they will become the standard for one of the services for institutional investors in the future.

Bitcoin Suisse pays attention to PoS

Bitcoin Suisse’s staking services include Tezos, DASH and ATOM (Cosmos). Ethereum is also on the list, but will be available after ETH 2.0 officially launches.

Bitcoin Suisse Adds Tezos (XTZ) to PwC Certified Safe Due to Storage Service Demand for Institutional Investors 24

Source: Bitcoin Suisse

Now that PoS stocks are becoming mainstream, Bitcoin Suisse is adopting staking as an alternative asset management method for institutional investors, as well as existing services such as custody services and transactions.

In fact, the company’s founder, Niklas Nikolajsen, looks forward to the future of PoS systems. Previously, Nikolajsen said about the possibility of fusion of Bitcoin and PoS, “I do not think it is planned at this time, but if Ethereum’s” PoS “transition succeeds, Bitcoin may also follow He also said. It is said that the main reason is the suppression of electricity consumption.


Images used with Shutterstock license

Related posts

ABC of Investing – take part in a free online conference and enter the world of 21st century investments |

Aparnna Hajirnis

Bitcoin’s first stress test in the financial market of Corona, good result = JP Morgan analysis

Aparnna Hajirnis

The price of bitcoin is falling but this is not the end of cryptocurrency increases

Aparnna Hajirnis

Leave a Comment