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  • Wrapped Bitcoin On Tezos, TZBTC, Expands Global Custodian Network With Hex Trust And Tangany

Wrapped Bitcoin On Tezos, TZBTC, Expands Global Custodian Network With Hex Trust And Tangany

TZBTC Expands With New Global Custodians

  • Hex Trust and Tangany join tzBTC ecosystem as Keyholders, expanding coverage across Asia and Europe

  • tzBTC, wrapped Bitcoin on Tezos, delivers the power of Bitcoin as a token on the Tezos blockchain.

  • tzBTC enables developers to create novel financial applications on the Tezos blockchain

August 12, 2021 –Hex Trust and Tangany today announced they have joined the tzBTC ecosystem as keyholders. tzBTC allows users and applications to directly transact in Bitcoin (BTC) on the Tezos blockchain, bringing BTC’s liquidity and brand to the Tezos ecosystem and enabling novel financial use-cases on-chain.

Hex Trust, Asia’s leading digital asset custodian, and Tangany, a leading European digital asset custody provider, join Mt. Pelerin, LEXR, and Inacta as tzBTC keyholders, responsible for the custody, minting, and burning of tzBTC. 

The tzBTC ecosystem is a leading example of tokenization and DeFi (decentralized finance) on Tezos. tzBTC brings the liquidity and battle-tested brand of BTC into the Tezos ecosystem, enabling BTC-backed use-cases on Tezos.

Developers on Tezos can use tzBTC to enable novel financial applications on the Tezos blockchain. Most recently, tzBTC was included as a liquidity baking asset in Tezos’ seventh forkless network upgrade, Granada. 

Hex Trust is Asia’s leading digital asset custodian. Hex Trust offers a range of banking and digital asset services and has strategic partnerships with leading financial services firms across Asia and Europe including Huobi Asset Management and SIA, the European leader in banking technology infrastructure.

Hex Trust also offers treasury management services including lending, borrowing, staking services, and connectivity to DeFi platforms. Hex Trust aims to ensure seamless access to digital assets within a compliance-focused framework whilst providing the highest levels of security available in the market.

“Hex Trust has been a part of the Tezos network since last summer, starting with the support of XTZ and staking/baking functionalities. We are pleased to continue our partnership by being the first Asia-based entity to be a part of tzBTC, and to broaden our support for European clients.” – Calvin Shen, Head of Sales & Business Development

Tangany is a leading European digital asset custody provider that enables partners and clients to explore blockchain, digital asset and crypto-based solutions.

The 2020 FinTech Germany Award winner specializes in white-label custodian products for digital assets used by corporations and institutions for various use cases. Tangany’s custody solution, which is used by more than 35 clients, offers highly flexible options for tokenization projects, institutional investor portfolio management, and asset managers seeking crypto services.

The institute was also awarded as the best crypto custody solution in Germany 2021 by TiAM magazine.

“As a regulated German institute, we are always interested in high quality products such as the tzBTC. It’s a great opportunity to work even closer with Tezos for the benefit of both sides.” – Martin Kreitmair, CEO of Tangany.