Hex Trust and Tangany Join Tezos’ Wrapped BTC Ecosystem as Keyholders

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Hex Trust, a digital asset custodian for the banking sector with headquarters in Asia, and Tangany, a white label custodian for digital assets such as Bitcoin, Ethereum and Security Tokens, have just announced they have joined Tezos’ Wrapped Bitcoin tzBTC ecosystem as keyholders.

But, what is tzBTC? It is basically a Wrapped Bitcoin that enables users and apps to carry out direct transactions in Bitcoin on the Tezos network. As a result, the liquidity and brand of Bitcoin are brought to the Tezos ecosystem.

With the announcement, Hex Trust and Tangany join Mt. Pelerin, LEXR and Inacta as tzBTC keyholders, who take care of the custody, minting, and burning of the tzBTC, which has been recently included as a liquidity baking asset in Tezos’ seventh forkless network upgrade (Granada). 

Who Are Hex Trust and Tangany?

Hex Trust is one of the most popular asset custodians in Asian, offering a wide range of banking and digital asset services, while Tangany is a leading European digital asset custody provider that allows partners and clients to explore blockchain, digital asset and solutions based on cryptocurrencies.

The Tezos ecosystem is constantly evolving thanks to the efforts led by its team. The project is one of the longest running proof-of-stake networks and one of the preeminent Layer 1 protocols in the crypto sphere.

Some of the most relevant features of the Tezos ecosystem are its energy-efficient design, ease of use and on-chain governance, which make it stand out of the competence and be one of the most popular projects among users. As a result, network activity on the Tezos ecosystem has increased by 1,200% in 2021.