New financial products are coming to tezos, one of a handful major proof-of-stake blockchains up and running today.
On Thursday, crypto startup Amun AG launched the Amun Tezos exchange-traded product, tracking the tezos cryptocurrency under the XTYZ ticker on the SIX Swiss Stock Exchange, according to a statement.
Zurich-based Amun's Tezos ETP is the firm's ninth crypto-based ETP issued to date on SIX and the firm claims to have some $70 million in assets under management.
As a PoS chain product, Amun's newest ETP will also issue staking rewards - termed "Baking" in the Tezos system - by Coinbase, which will be automatically reinvested into the holder's ETP shares.
"Via our ETP, participate in the associated rewards for contributing to the security and stability of the Tezos blockchain - without the need to ever have to set up a crypto wallet or taking care of a private key."
Amun and others choosing of tezos speaks to the underlying asset's stability, according to data provider Messari research analyst Wilson Witham.
"Tezos is quietly becoming a viable option for the issuance of tokenized securities. There's a growing confidence among security token issuers that tezos can provide the tools and security necessary to facilitate similar efforts," Witham said.
Tezos' edge comes down to its consensus mechanism, Witham said.
Alliance Investments recently employment Tezos for tokenizing real estate contracts amounting to nearly $650 million this October.
"Tezos' on-chain governance also gives it an interesting dynamic. Security token issuers can participate first hand in the future direction of the protocol," said Witham.
Swiss SIX Exchange Lists Tezos ETP With Staking Rewards
gepubliceerd op Nov 14, 2019
by Coindesk | gepubliceerd op Coinage
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