Tezos, the blockchain platform for decentralized governance, will launch a range of loan and income products with the leading DeFi platform EQIFI and support the Tezos blockchain ecosystem.
Why EQIFI chose Tezos
According to a press release shared with CryptoPotato, EQIFI prefers Tezos for its proven on-chain governance, proof-of-stake consensus mechanism, and its community of developers and innovators. For EQIFI, this partnership cemented it as the first seamless global bridge to DeFi.
The DeFi platform will offer stakeout and loan services to its customer base. EQIFI Chairman Jason Blick believes this will help put EQIFI at the forefront of the industry:
“A product offering with an industry leader like Tezos means EQIFI is setting the bar in the DeFi space. Providing borrowing and borrowing commitments for Tezos owners is just the next step in positioning EQIFI as an industry leader.
EQIFI is funded by one of the world’s leading licensed and regulated banks, EQIBank. The platform is managed decentrally by the owners of their staking token called EQX token.
Tezos is one of the first layer-one, proof-of-stake and smart contract compatible blockchains. It has logged millions of transactions while also providing support for everything from NFTs to DAOs to DeFi and offering hundreds of applications.
Tokenization with Tezos
Tezos has expanded access to its token and network through a partnership each. Just a week ago it was selected to develop digital on-chain products for three Swiss banks, including Crypto Finance Group, InCore Bank and Inacta. InCore in particular had promised to introduce staking, trading and storage services for Tezos, similar to EQIFI. The price of XTZ (Tezos) then increased by 15%.
Crypto Finance Group’s storage infrastructure CEO Stijn Vander Straeten sees how Tezos’ smart contract functionality can help the financial system.
“The introduction of these Tezos use cases to the financial sector is making innovative, compliant on-chain financial products a reality today.”
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