Digital asset management firm Finoa has announced a partnership with Ethereum based BaaS platform SKALE Network. In a tweet on Wednesday, Finoa stated that it would provide institutional class custody solutions to the SKALE token, SKALE Network’s native cryptocurrency.
We are pleased to announce our partnership with @SkaleNetwork to provide institutional-grade custody support for SKALE!
Are you curious to learn more about our collaboration with SKALE? Read the full story here: https://t.co/l9INMD3qVL pic.twitter.com/HkW8KIg1qC
— Finoa (@Finoa_io) November 4, 2020
Finoa is one of the leading names in the digital asset banking segment and functions as a standardized custodian and staking service provider of digital assets, serving institutional and professional investors. Commenting on their partnership with SKALE Network, Co-founder and CEO of Finoa, Christopher May, said that this would allow investors to securely store and stake SKALE tokens with the digital asset banking platform.
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May further that SKALE Network’s innovative architecture will solve the speed and performance issues within the Ethereum ecosystem and provide developers with tools to build innovative next-gen applications. SKALE Labs CEO Jack O’Holleran said that partnering with Finoa helps them offer an ecosystem of a host of products for every possible interaction with their network participants.
Further, he said that SKL holders would have a secure and compatible way to hold and manage their tokens using Fiona’s user-friendly digital asset custody solutions while maintaining easy access within the network.
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Crypto staking is one of the most important aspects of the DeFi segment; however, custodial services remains an issue, preventing the market from attaining full potential. With Finoa powering innovative projects like SKALE Network will provide the much-needed staking and custodial infrastructure to the industry.
