Crypto Custody Provider Finoa To Provide Institutional-Grade Custody Support For SKALE
FinTech firm Finoa has teamed with blockchain startup SKALE Labs to bring institutional-grade custody support for SKALE, the native token powering the SKALE Network.
Based in Berlin, Finoa is a regulated custodian for digital assets, servicing professional investors with custody and staking. Finoa’s platform enables its users to securely store and manage their crypto-assets, while providing a directly accessible, highly intuitive and unique user-experience, enabling seamless access to the ecosystem of Decentralized Finance (DeFi). Reference customers include the world’s most renowned Venture Capital firms, large corporations and financial institutions.
The SKALE Network, an Ethereum-as-a-service platform, is built to support the exponential growth of the Ethereum blockchain by easing traffic and significantly lowering transaction costs. Thus, allowing developers to bring dApps to market that can live up to the high consumer demands. The SKALE Network combines a pooled validation model with random note selection and frequent note rotation to ensure that it is scalable, secure, and economically efficient.
The partnership between the two companies will provide investors with a secure and regulated environment to safeguard, manage and stake their SKALE tokens.
“Offering network participants an ecosystem of the best possible products for every interaction is incredibly important to the SKALE Community which is why working with Finoa made a lot of sense,” said Jack O’Holleran, CEO of SKALE Labs. “Their user friendly digital asset custody solution will offer SKL token holders a secure and compliant way to hold and manage their tokens while keeping them easily accessible for use within the network.”
“In collaboration with Skale Labs, we are excited to add another promising project to our platform and enable investors to securely store and stake their SKALE tokens with us,” said Finoa Co-Founder & Co-CEO Christopher May. “The network’s innovative architecture not only solves some of the current speed and performance issues with the Ethereum Network, but also provides developers with a much needed set of tools to power the next wave of innovative applications.”
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