Tezos is a token and blockchain that uses a staking process called baking, and they’ve been enjoying some popularity in the cryptocurrency industry lately. After being added to Coinbase Pro, with a launch date coming soon, the Huobi wallet how now welcomed the asset as well.
- Huobi Wallet is adding support for the Tezos XTZ token.
- Support for this token was also recently announced within Coinbase Pro.
Tezos is having a productive summer so far. Only days ago, Coinbase Pro announced that they were adding support for the cryptocurrency, leading to a boost of over 20% within a few hours. Now, they are teaming up with Huobi, according to a new tweet.
Huobi offers a wallet to users of their cryptocurrency exchange, and they’ve just announced that the XTZ tokens will be supported by, agreeing to participate in baking as well. Tezos uses the term “baking” to describe their Proof of Stake (PoS) staking counterpart.
In the tweet, the platform explains Tezos’s role as a self-amending network, which basically means that a hard fork is not required when it updates, due to the on-chain mechanisms and voting procedures. Huobi expresses that Tezos is a leader in both POS and governance, adding that it was “a no brainer to add XTZ” to their wallets.
The Tezos blockchain is seeing recent success as well. BTG Pactual, the biggest investment bank in Latin America, announced that they are shifting its security token offerings to this blockchain. This channel produces approximately $1 billion in sales.