• Tenet – a liquid staking layer 1 blockchain built on the Cosmos network – will team with Conflux and Qtum, two blockchains with a heavy presence in China, to deepen the roots of the liquid staking industry in that country’s markets.
• The partnerships are meant to integrate Tenet into the Asian blockchain community that is “often siloed from Western crypto projects.”
• Conflux, which claims to be the only regulatory-compliant blockchain in China, has collaborated with international brands and government entities like the city of Shanghai, McDonald’s China and China Telecom.
Tenet Partners With Conflux and Qtum
Tenet, a liquid staking layer 1 blockchain built on the Cosmos network, has announced partnerships with Conflux and Qtum, two blockchains with a heavy presence in China. These collaborations aim to increase exposure for liquidity staking products in Chinese markets.
Integrating Into Asia’s Blockchain Community
The partnerships seek to integrate Tenet into Asia’s blockchain community which tends to be separated from western crypto projects. Stakers of Conflux or Qtum must stake at least $1 million worth of their native tokens to help secure each respective blockchain while gaining access to increased yield and utility through Tenet’s network via Liquid Staking Derivatives (LSD).
Conflux & Qtum’s Presence In China
Conflux is currently hailed as the only regulatory-compliant blockchain in China due its collaborations with international brands such as China Telecom plus government entities like Shanghai City. On the other hand, Qtum had previously partnered with Amazon Web Services’ Chinese division back in 2018.
Chao Deng Discusses Crypto Expansion In Asia
Chao Deng, CEO of HashKey Capital (the investment arm of financial-services firm HashKey Group) discussed why Asia Is crypto’s next regional hub during Consensus 2023 held at Austin Texas this year. He highlighted Asia’s growing technology sector plus focus on digital literacy along its relatively friendly regulatory environment as reasons making it ripe for digital asset expansion.
The partnership between Tenet and Conflux/Qtum aims to increase exposure for liquidity staking products in Chinese markets by integrating them into Asia’s growing blockchain community while taking advantage of its favorable conditions for digital assets expansion such as growing tech sector plus focus on digital literacy & friendly regulations.