Finoa announces collaboration with Skale Labs to provide institutional-grade custody support for SKALE

Finoa is pleased to announce a partnership with Skale Labs, to bring institutional-grade custody support for SKALE, the native token powering the SKALE Network.

The SKALE Network, an Ethereum-as-a-service platform, is built to support the exponential growth of the Ethereum blockchain by easing traffic and significantly lowering transaction costs. Thus, allowing developers to bring dApps to market that can live up to the high consumer demands.

With a sophisticated and effective approach to Proof of Stake, combining a pooled validation model with random note selection and frequent note rotation, the SKALE Network ensures that it is scalable, secure, and economically efficient. A testament to that is SKALE’s recent Phase 2 mainnet launch that went live with over $80 Million in Total Value Locked, resulting in one of the most distributed decentralization efforts at the launch of a blockchain network to date.

In addition to custody, Finoa provides professional investors with the opportunity to stake their allocations and deliver security to the SKALE Chains in a seamless, safe, and secure manner directly from Finoa’s secure infrastructure.

“Offering network participants an ecosystem of the best possible products for every interaction is incredibly important to the SKALE Community which is why working with Finoa made a lot of sense. Their user friendly digital asset custody solution will offer SKL token holders a secure and compliant way to hold and manage their tokens while keeping them easily accessible for use within the network.” — CEO of SKALE Labs Jack O’Holleran

“In collaboration with Skale Labs, we are excited to add another promising project to our platform and enable investors to securely store and stake their SKALE tokens with us. The network’s innovative architecture not only solves some of the current speed and performance issues with the Ethereum Network, but also provides developers with a much needed set of tools to power the next wave of innovative applications” — Finoa Co-Founder & Co-CEO Christopher May

Are you curious to learn more about our support for SKALE? Reach out to us here.

About Finoa

Your Key to Digital Asset Banking — Finoa is a regulated custodian for Digital Assets, servicing professional investors with Custody and Staking. The platform enables its users to securely store and manage their crypto-assets, while providing a directly accessible, highly intuitive and unique user-experience, enabling seamless access to the ecosystem of Decentralized Finance (DeFi). Reference customers include the world’s most renowned Venture Capital firms, large corporations and financial institutions. Finoa was founded in Berlin in 2018, has received a preliminary crypto custody license (§64y Para. 1 KWG) and is supervised by the German Federal Financial Supervisory Authority (BaFin).