Three leading European banks are reported to be integrating new token standards based on Tezos (XTZ) products.
The latest development reveals Crypto Finance Group, InCore Bank, and Inacta have developed a new Tezos token standard, known as DAR-1.
The token establishment is based on the Tezos FA2 standard for asset tokenization.
DAR-1 supports smart contracts and allows users to implement all functions required for modern financial market purposes, ranging from Know Your Customer (KYC)/Anti-Money Laundering (AML) checks to asset governance.
The selection of Tezos (XTZ) is associated with this blockchain’s ability in self -improvement, whose mechanism allows the activation of important consensus updates without network division.
At the same time, Incore Bank has launched a staking service for the Tezos network.
This means, any financial institution that receives benefits from the bank is also allowed to offer staking services to their clients easily.
At the time of writing, the XTZ posted an increase of over 14% in 24 hours, trading at $ 4.40.
