TrustWallet Adds Tezos (XTZ) for Storage and “Baking”

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TrustWallet, an app acquired by Binance, continues to expand its selection of digital assets, adding Tezos (XTZ) to its portfolio. This addition is part of the drive for TrustWallet to offer not just storage, but also staking services for XTZ and other coins in the future. For XTZ, the process of liquid staking, registering them with some of the delegated block producers is also known as “baking”. The TrustWallet is still working on adding native staking support for the Tezos network. The announcement from TrustWallet arrives just days after the service expanded its portfolio to include Stellar (XLM). Additionally, the Tezos network has received native support from the Coinbase Custody service, to avoid the inflation inherent to holding XTZ assets without staking. Staking coins has been a source of passive income in the past, with multiple coins and projects offering exorbitant staking effective interest rates, but most proving to be…

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