Tezos, the blockchain platform of decentralized governance, will be launching a suite of lending and yield products with the leading DeFi platform EQIFI, providing support for the Tezos blockchain ecosystem.
Why EQIFI Chose Tezos
According to a press release shared with CryptoPotato, EQIFI favors Tezos for its time-tested on-chain governance, its proof of stake consensus mechanism, and its community of developers and innovators. For EQIFI, this partnership cements them as the first seamless global bridge to DeFi.
The DeFi platform will be offering staking and borrowing services to its customer base. EQIFI chairman Jason Blick believes this will help place EQIFI at the top of the industry:
“A product offering with an industry leader such as Tezos signifies the bar EQIFI is setting in the DeFi space. Providing exposure to Tezos holders for staking and borrowing is just the next step in positioning EQIFI to become an industry leader.”.
EQIFI is funded by one of the world’s top licensed and regulated banks known as EQIBank. The platform is decentrally governed by the owners of its staking token called EQX token.
Tezos is one of the first layer-one, proof-of-stake, smart-contract compatible blockchains. It has logged millions of transactions while providing support for everything from NFT’s to DAO’s to DeFi and offers hundreds of applications.
Tokenizing With Tezos
Tezos has been expanding access to its token and network through one partnership at a time. Just a week ago, it was chosen to create on-chain digital products for three Swiss banks, including Crypto Finance Group, InCore Bank, and Inacta. InCore, in particular, had promised to launch staking, trading, and storage services for Tezos, much like EQIFI. The price of XTZ (Tezos) jumped by 15% after that.
CEO of storage infrastructure at Crypto Finance Group, Stijn Vander Straeten, sees how Tezos’ smart contract functionality can help the financial system.
“The launch of these Tezos use cases for the financial sector make innovative, compliant on-chain financial products a reality today.”