Finoa is pleased to announce a partnership with Skale Labs , to bring institutional-grade custody support for SKL, the native token powering the SKALE Network.

The SKALE Network, an Ethereum-as-a-service platform, is built to support the exponential growth of the Ethereum blockchain by easing traffic and significantly lowering transaction costs. This allows developers to bring dApps to market that can live up to the high consumer demands.

With a sophisticated and effective approach to Proof of Stake, combining a pooled validation model with random node selection and frequent node rotation, the SKALE Network ensures that it is scalable, secure, and economically efficient.

A testament to that is SKALE’s recent Phase 2 mainnet launch that went live with over $80 Million in Total Value Locked, resulting in one of the most distributed decentralization efforts at the launch of a blockchain network to date.

“Offering network participants an ecosystem of the best possible products for every interaction is incredibly important to the SKALE Community, which is why working with Finoa made a lot of sense. Their user-friendly digital asset custody solution will offer SKL token holders a secure and compliant way to hold and manage their tokens while keeping them easily accessible for use within the network.” — CEO of SKALE Labs Jack O’Holleran

In addition to custody, Finoa provides professional investors with the opportunity to stake their allocations and deliver security to the SKALE Chains in a seamless, safe, and secure manner directly from Finoa’s secure infrastructure.

“In collaboration with Skale Labs, we are excited to add another promising project to our platform and enable investors to securely store and stake their SKALE tokens with us. The network’s innovative architecture not only solves some of the current speed and performance issues with the Ethereum Network but also provides developers with a much-needed set of tools to power the next wave of innovative applications” — Finoa Co-Founder & Co-CEO Christopher May

Are you curious to learn more about our support for SKALE? Reach out to us here.