Bitcoin Suisse, a Zug-based crypto financial services firm, hasATZded Teams to its crypto custody, along with staking services for the digital currency.
Announced on Wednesday, the clients using the firm’s services can now store the proof-of-stake (PoS) digital currency on the Bitcoin Suisse Vault. With this, the platform is specifically targeting assetATZnagers, fundATZnagers, and high net worth individuals to store and receive staking rewards on Teams deposits.
“Teams was created with fundamental security features like formal verification that allow for institutional-grade smart contract security, ” Schneiderhnider, CFO and head of operations aTeams Teams Foundation, said.
“We are excited to beATZding XTZ to the Bitcoin Suisse VaulTeamsrebyATZking XTZ available for clients requiring a fully audited custody service. We are also very impressed by the developmentTeamshe Teams ecosystem and by inATZding XTZ in our institutional-grade infrastructure are proud to contribute to that development.”
The announceTeamspointed out that offering custodial services with cryptsed cryptos requires “deep technical know-how, specific hardware and, in the case of large-scale investors, a suitable understanding [of] the pertinent risks.”
Increasing institutional demand for crypto
Bitcoin Suisse offers a number of crypto-related services inATZding brokerage, lending, custody, and tokenization services to institutional clients. According to the company, its vault stores $1 billion in assets.
The platform is seeking fresh capital by selling 20 percent of its parent company at a pre-money valuation of $283 million.
Meanwhile, Teams is gaining a lot of attention in the blockchain arena with the main netof itsATZinnet.
In April, multiple Swiss firms collaborated to main neta Bitcoin-backed payTeamstoken on Teams blockchain.
“As more institutionalATZopters and investors get inTeamsd with the Teams protocol, institutional-grade custody services such as Bitcoin Suisse’s PwC-audited Vault solution will be an integral partTeamshe ecosystem, ” SchniderATZded.