Switzerland Stock Exchange SIX Turns to Tezos (XTZ) – Product Release & Updates

Switzerland Stock Exchange, SIX Now Supports Tezos (XTZ) Income-Generating exchange-traded product (ETP).

Based on reports, the Tezos (XTZ) income-generating ETP carries the symbol, AXTZ. Amun AG in partnership with the Tezos Foundation is issuing it.

The ETP’s investment objective aims at providing exposure to the performance of Tezos. And generate additional yield for investors through the “baking rewards.”

A chance to “bake”

The fintech firm also said it’s the first of a kind. As it gives investors the chance to earn a passive income via transactions that are validated on the Tezos blockchain.

Tezos users get the chance to earn passive interest by depositing their tokens to maintain the network. And earn rewards.

A term unique with Tezos, “baking”, allows stakeholders to participate in the staking and governance process. Specifically, by delegating their coins to a service of their choice. After delegation, there’s a correlation between the holdings and the total staking balance of the service. Then investors get their rewards paid out by the network.

Besides, the firm charges 2.5% on proceeds from the Amun Tezos ETP.

Also, Coinbase’s institution-grade Custody Platform provides security and management of the underlying assets. Amun says it holds 100% of the value of these assets in cold storage.

Co-founder and CEO of Amun, Hany Rashwan said: “Investors get the opportunity to buy a stock for as low as $20. Accordingly, we bake/stake on their behalf and return it to them as a dividend. Even without them required to do any staking on their own.”

Importantly, the products exist for both retail and institutional investors. Thus, they get the opportunity to participate in the rewards after contributing to the security and stability of the Tezos blockchain. Even without the need to ever set up a crypto wallet or take care of a private key.

Furthermore, after today’s launch, Amun AG now controls a total of nine cryptocurrency ETP products on the SIX…

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