Finoa supports KYVE’s mainnet launch with institutional custody and staking infrastructure
Berlin, 21. Feb. 2023. Finoa, Europe’s leading institutional crypto custodian, will be offering institutional custody and staking for KYVE, the native token of the KYVE Network, following its mainnet launch. As the exclusive launch partner, Finoa secures the custody and in-custody staking of KYVE tokens from day one, enabling token genesis from its secure infrastructure.
KYVE is a decentralized data lake that serves as a trustless hub for sourcing valid data. It was co-founded in 2021 by Fabian Riewe and John Letey, two engineers who previously made significant contributions to Arweave, a blockchain data-storage network. A Proof-of-Stake crypto protocol built on the Cosmos SDK, KYVE aims to make trustless data a public good, providing availability and validation services for both on-chain and off-chain data for Cosmos-based networks.
Finoa is already an active supporter of KYVE, powering the growth of the network with core infrastructure by running institutional-grade staking validators. To date, Finoa has been running nodes successfully on the KYVE testnets.
Following the protocol’s mainnet launch, the integration of the KYVE token into the Finoa platform will also enable institutional investors to securely hold and stake KYVE using an intuitive interface designed for business use.
“We’re very excited to have Finoa’s support and benefit from their institutional custody and staking infrastructure for $KYVE. With Finoa being a well-regulated custodian, it’s reassuring to know that our stakeholders are in secure hands,” said Fabian Riewe, Co-Founder and CEO of Kyve.
On this occasion, KYVE becomes the tenth Proof-of-Stake token supported in the Finoa institutional crypto platform. Staking empowers holders to uphold the security of their chosen networks. Users can stake natively using Finoa’s industry-leading on-chain execution service, which leverages segregated wallets and allows holders to get rewards from validators directly into their accounts.
Commenting on the partnership, Henrik Gebbing, Co-Founder and Co-CEO of Finoa, added:
“We’re thrilled to be the exclusive launch partner for the KYVE Network ahead of the mainnet launch and look forward to supporting the team, foundation, and investors with qualified custody and staking participation at token genesis. KYVE’s unique approaches and tooling to solve data accessibility challenges will play an instrumental role in enabling crypto ecosystem innovation going forward, and it’s a pleasure for us to be supporting the exciting journey ahead.”
By integrating KYVE, Finoa is once again showing its support for the Cosmos ecosystem. Last year, Finoa integrated the tokens of networks Agoric and Axelar for custody and staking and offered validator services via Finoa Consensus Services for Injective, Agoric, and Axelar.
Finoa is Europe’s leading crypto platform for institutional investors. Founded in 2018 by Christopher May and Henrik Gebbing, the company offers institutional investors a full range of financial services including custody and staking, with day-one support for emerging protocols and in-demand projects.
Finoa’s intuitive platform enables users to securely store and manage their assets regardless of their familiarity with crypto. As a regulated custodian, the company serves renowned venture capital firms, hedge funds, corporates, and crypto-native companies, among others.
KYVE Network is revolutionizing customized access to on- and off-chain data by providing fast and easy tooling for decentralized data validation, immutability, and retrieval. Its data lake archives and validates data in a decentralized way, making trustless data easily accessible via solutions like KYVE’s Data Pipeline.
The network is powered by decentralized uploaders and validators funded by $KYVE tokens and aims to operate as a DAO following our mainnet launch. KYVE is backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Distributed Global, Mechanism Capital, CMS Holdings, IOSG Ventures, and blockchains such as Arweave, Avalanche, Solana, Interchain, and NEAR.