Huobi Announces Its Wallet Be ‘Baking’ Tezos With XTZ Support Coming

The wallet provided by cryptocurrency exchange Huobi will support Tezos (XTZ) native tokens and baking, the wallets official Twitter account announced on July 31.

Huobi Wallet to support Tezos

In the aforementioned tweet, Huobi Wallet announced that it will support the Tezos native token and its Proof of Stake (PoS) staking counterpart — baking — in the near future. Part of the announcement reads:

“Thrilled to announce that Huobi Wallet will be a #Tezos baker and support #XTZ soon.”

A self-amending PoS blockchain

The tweet also explains that Tezos is a so-called self-amending network, which means that it is capable of updating without going through a hard fork thanks to a complex system of on-chain mechanisms and voting. The tweet further claims that Tezos is “leading the way in POS & governance” and concludes:

“As a multi-currency wallet app, it is a no brainer to add XTZ.”

As of press time, Tezos trading at $1.25 and increased its value by 0.57% over the last 24 hours according to Coin360 data.

As Cointelegraph reported earlier this week, major cryptocurrency platform Coinbase is onboarding the cryptocurrency Tezos to its professional trading platform, Coinbase Pro.

At the beginning of the current month, it has been announced that Latin America’s biggest investment bank, BTG Pactual, plans to shift its security token offerings, a pipeline of over $1 billion in sales, onto the Tezos blockchain.