After launching its open-source proof-of-stake blockchain in May, the Provenance Blockchain Foundation has partnered with Bison Trails technology to help expand the network and support its native currency ‘Hash’ holders.
According to June Ou, executive director of the Provenance Blockchain Foundation, Provenance will use Bison Trails’ technology to expand its network and provide support to Hash holders running validator nodes.
Hash is the Provenance blockchain’s native cryptocurrency, which functions as both a payment and governance token.
Bison Trails CEO Joe Lallouz remarked, “We’re happy to assist Provenance in its effort to alter the financial services industry for the better.”
“The addition of Provenance to the public Tendermint blockchain paves the way for more adoption and innovative applications of blockchain technology in the financial services industry.”
After its parent company, Figure Technologies secured a $200 million financing round in May of this year, the Provenance blockchain is launching on Tendermint with a lot of excitement.
Morgan Creek Digital Funding and 10T Holdings lead the Series D funding round. Figure Technologies currently has a market capitalization of $3.2 billion as a result of the increase.
Provenance was created to assist traditional financial institutions in discovering new blockchain business opportunities. The platform’s main use case is supporting digital asset marketplaces and exchanges for buyers and sellers.
Bison Trails, on the other hand, has been at the core of a number of high-profile collaborations. Bison Trails, as reported by Cointelegraph, is a key infrastructure supporter of Crypto.com’s payment blockchain.
Bison Trails announced Global Blockchain Sync in February of this year to improve the node operations of its partners, which include Polkadot, Ethereum, and Cosmos.
Bison Trails, a bitcoin enterprise infrastructure provider, announced Tuesday that it will support Provenance, a multibillion-dollar platform that allows traditional financial institutions to deliver blockchain services to their customers.