Idle partners up with regulated custodian service Finoa to offer secure asset management to IDLE token holders.
With traditional financial businesses increasingly joining the crypto and DeFi world, there’s a growing demand for reliable and professional custody services.
This demand to safeguard cryptocurrency assets comes from regulated financial institutions that need professional infrastructure to store private keys. While there are many solutions for individual key management, those activities are out of business scope for those stakeholders, which do not want to take the risks of personally setting up the custody.
Custodians represent the right fit also for compliance reasons, helping crypto activities to interact with regulators and reducing barriers to make the business operational. Analyzing the big picture, qualified and reputable custodians are relevant actors to increase security standards and bring banking best practices in this space.
Idle strengthens the relationship with this industry leader to expand the token ecosystem, letting institutional players securely store their Idle protocol’s ownership.
Through Finoa’s intuitive interface, institutions can deposit and withdraw $IDLE governance tokens in a seamless way. Finoa is a regulated custodian for digital assets offering custody and staking services for institutional players and corporations. The platform enables customers to manage their digital assets safely and easily, regardless of their familiarity with crypto.
As a regulated custodian, the company serves high-profile customers around the world, including renowned venture capital firms, large corporations, and financial institutions.
Finoa is a qualified crypto-asset custodian and is supervised by the German Federal Financial Supervisory Authority (BaFin). The company was founded in Berlin in 2018 and is backed by financial investors Balderton Capital, Venture Stars, Coparion, and Signature Ventures.
Idle Leagues are proud of this partnership and look forward to seeing Idle ecosystem more and more integrated within custodian services.