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OKCoin Japan Embraces Tezos: Joins as Corporate Baker, Launches XTZ Staking
OKCoin Japan has been officially welcomed as the latest corporate baker on the Tezos blockchain. They become the 30th corporate baker in the Tezos ecosystem. This move not only marks a notable addition to Tezos’ list of corporate bakers, which includes names like Google Cloud and Ubisoft, but also heralds the introduction of tez (XTZ) staking services on OKCoin Japan’s platform starting November 8, 2023.
By: Lee Evans
1 November 2023
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
OKCoin Japan has been officially welcomed as the latest corporate baker on the Tezos blockchain. They become the 30th corporate baker in the Tezos ecosystem. This move not only marks a notable addition to Tezos’ list of corporate bakers, which includes names like Google Cloud and Ubisoft, but also heralds the introduction of tez (XTZ) staking services on OKCoin Japan’s platform starting November 8, 2023.
As reported by TZ APAC, the Asia Pacific arm of the Tezos ecosystem, this partnership is poised to bolster Web3 synergies in Japan, a nation already ranked in the top 20 of the Chainalysis 2023 Global Crypto Adoption Index. Through this collaboration, OKCoin Japan aligns itself with the growing number of enterprises participating meaningfully in the governance and development of the Tezos blockchain.
Let’s welcome @OKCoinJapan to the ecosystem as a corporate baker on @Tezos!
OKCoinJapan will also add tez (XTZ) to its staking services from 8 November 2023.
TZ APAC and OKCoin Japan look forward to exploring synergies in #Web3 in Japan.
David Tng, Managing Director of TZ APAC, expressed his enthusiasm for the collaboration, stating:
“We are delighted to have OKCoin Japan as a corporate baker on the Tezos blockchain. The Japanese audience will now have access to staking on the Tezos blockchain through the comfort of a licensed virtual currency service provider and earn rewards. We hope that through this collaboration, we will be able to gather the Japanese audience to explore a vibrant ecosystem of games, DeFi, and art communities building on the Tezos blockchain.”
OKCoin Japan is a Virtual Currency Exchange Service Provider, established in September 2017. It operates with a strong commitment to regulatory compliance and governance, aligning with the rules set forth by Japan’s Financial Services Agency and the Japan Virtual Currency Exchange Association.
The concept of baking on Tezos involves the liquid proof of stake (LPoS) consensus mechanism, where bakers validate transactions and maintain network security. These bakers, who must stake a minimum of 6000 tez, are incentivized through rewards and the privilege to vote on protocol amendments. Corporate bakers like OKCoin Japan amplify this security model and participate in governance, influencing the blockchain’s evolution.
In light of this new partnership, OKCoin Japan announced the addition of Tezos (XTZ) to its staking service portfolio. With plans offering up to an estimated annual rate of 5.88%, users can now engage in flexible or fixed-term staking with XTZ starting November 8, 2023, at 17:00 JST. This initiative underscores OKCoin Japan’s commitment to enriching its trading environment and services.
The introduction of a heavyweight like OKCoin Japan as a corporate baker underscores the value proposition of corporate baking on Tezos, which includes innovation, diverse use cases, influence over blockchain direction, hands-on experience, and more. It also enhances the blockchain’s security, fosters trust, stimulates governance participation, and encourages network growth and development.
This strategic alliance between OKCoin Japan and TZ APAC reflects a concerted effort to foster a thriving Tezos ecosystem within the Japanese market, leveraging the blockchain’s technological prowess to usher in a new era of Web3 innovations.
For more detailed information about the staking service and rules, interested parties can visit OKCoin Japan’s official support page.
OKCoin Japan has been officially welcomed as the latest corporate baker on the Tezos blockchain. They become the 30th corporate baker in the Tezos ecosystem. This move not only marks a notable addition to Tezos’ list of corporate bakers, which includes names like Google Cloud and Ubisoft, but also heralds the introduction of tez (XTZ) staking services on OKCoin Japan’s platform starting November 8, 2023.
Deloitte Luxembourg announces that it will become a Tezos Corporate Baker. As a Corporate Baker, Deloitte Luxembourg will be responsible for validating, securing and adding transactions (blocks) to the Tezos blockchain. This new position allows Deloitte Luxembourg and Tezos to explore synergies in Web3-related topics, alongside other ecosystem stakeholders.
onepoint was founded in 2002 and operates in the Netherlands, Belgium, France, Australia, Canada, the United States, and Tunisia.
With over 2,300 employees and a revenue of €300 million in 2021, onepoint is a sizable player in the industry.
Now, it has been announced that they have become a Tezos corporate baker (the 28th joining the Tezos ecosystem).
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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Etherlink, the Tezos blockchain’s latest Layer 2 solution, is set to redefine the landscape of decentralized applications (DApps) with its upcoming mainnet launch in March 2024. This EVM-compatible, optimistic rollup distinguishes itself from other external Layer 2 platforms like Arbitrum, Optimism, and Polygon, due to its unique enshrinement within the Tezos blockchain.
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