Hex Trust, operators of the Asia-based crypto-asset custodian platform — Hex Safe, has announced it has joined the tzBTC ecosystem as keyholders. tzBTC allows users and applications to directly transact in bitcoin (BTC) on the Tezos blockchain.
The tzBTC ecosystem is an example of tokenization and DeFi on Tezos. tzBTC brings the liquidity and battle-tested brand of BTC into the Tezos ecosystem; enabling BTC-backed use-cases on Tezos.
Developers on Tezos can use tzBTC to facilitate new financial apps on the Tezos blockchain. Just recently, tzBTC was included as a liquidity baking asset in Tezos’ seventh forkless network upgrade, Granada.
Hex Trust + tzBTC
“Hex Trust has been a part of the Tezos network since last summer; starting with the support of XTZ and staking/baking functionalities. We are pleased to continue our partnership by being the first Asia-based entity to be a part of tzBTC; and to broaden our support for European clients.”
– Calvin Shen, Head of Sales & Business Development at Hex Trust
Tezos is one of the longest-running Proof of Stake networks and established layer-1 blockchain protocols in the crypto space. The Tezos network is known for its energy-efficient design, ease of use, and on-chain governance. Tezos is able to adopt the best features of other blockchain protocols through its proven on-chain governance and seamless upgradeability.
Network activity on Tezos has grown 1,200% this year. Tezos has one of the largest NFT ecosystems led by indie marketplace Hic et Nunc and joined by brands including Formula 1 racing teams Red Bull Racing Honda and McLaren Racing; who have selected Tezos to build their NFT fan experiences on.
Further, Tezos also has an active DeFi ecosystem with ERC-20 bridges for low-gas cross-chain utility, yield farming protocols, and AMM platforms. Game developers, music labels, NFT artists, sporting franchises, central banks, real estate developers, global NGOs, and more are all building on Tezos.