Fund launches in staking
While global institutional investors are just getting started with Bitcoin, crypto-currency-friendly Swiss asset managers are stepping up their bets on the development of the next generation of blockchain networks.
On Friday, it was announced that Zurich-based investment firm Tavis Digital had partnered with Singapore-based Persistence. Persistence is a bridge for traditional companies into unknown areas such as tokenized mortgages and decentralized finance (DeFi). Tavis Digital is part of Tavis Capital. Tavis Capital is an asset management company regulated by the Swiss Financial Market Supervisory Agency (FINMA) and manages approximately $1.07 billion in assets.
In terms of crypto-currency and its applications, agile and financially complex countries like Switzerland and Singapore are leading the way.
Persistence allows investors to earn milestone rewards (similar to interest) by participating in proof of participation (PoS) networks such as Cosmos, Polygon (formerly Matic), NEAR, SKALE, Terra and others. The tie-up with Tavis is a demonstration that some traditional funds are going beyond simply adding bitcoin as an asset class.
It's a complicated task to be directly involved in managing the staking network and all the verification nodes attached to it, and Persistence provides a complete setup for companies that don't want to spend time and money implementing it, and has set up a blockchain team.
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