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Finoa becomes preferred custodian for the Audius Foundation treasury, enabling in-custody staking of $AUDIO for institutional investors

The partnership will see Finoa work with the Audius Foundation to manage their treasury and offer in-custody staking to institutional investors and corporations...

Published by CryptoNinjas.net
06/29/2022
Finoa becomes preferred custodian for the Audius Foundation treasury, enabling in-custody staking of $AUDIO for institutional investors

Finoa, the regulated crypto asset custodian, today announces its partnership with Audius, the decentralized audio streaming platform that directly connects artists and fans to share and discover content. The partnership will see Finoa act as custodian to the Audius Foundation, managing their token treasury and allowing institutions to invest and stake the native $AUDIO token on Finoa’s fully-regulated platform. With Audius’ Web3 technology powered by the Ethereum blockchain, the partnership provides further evidence of Finoa’s continued commitment to work with the Ethereum community and ecosystem.

As a decentralized music platform, Audius democratizes the music industry, giving artists the opportunity to define their own monetization structure, allowing them to earn native $AUDIO tokens as they contribute and curate content. As full custodian of the Audius Foundation, Finoa has been able to meet large institutions’ reliability and security requirements and offer fully compliant institutional staking of the $AUDIO token, at scale.

Finoa provides curated access to exciting projects in the crypto ecosystem, enabling institutional investors and token holders to participate through its fully regulated and secure platform. Its user-friendly native staking experience ensures optimal capital efficiency for crypto-asset holdings, and detailed reporting tools help meet the compliance needs of enterprise-grade clients.

Commenting on the partnership, Co-Founder & Co-CEO Henrik Gebbing said: “We are very pleased to be announcing this partnership with Audius and look forward to working more closely with great founders in Roneil and Forrest. As custodian of their treasury, we can continue to bridge the gap between institutions and exciting Web3 technologies, and  our platform will allow Audius to attract more institutional investment into their ecosystem, and offer institutions a fully-regulated staking experience that is easy to understand.”

Roneil Rumburg, Co-Founder & CEO of Audius, adds “As a decentralized community and discovery platform, Audius is working to empower our users with new channels to communicate and collaborate directly. This integration with Finoa will allow larger and more professional users to easily stake their $AUDIO to help power the network.

About Finoa

Finoa provides institutional access to the ever-growing crypto-asset ecosystem, with extensive asset coverage and day-one support for emerging blockchain protocols and in-demand projects. Founded in 2018 by Christopher May and Henrik Gebbing, the company offers institutional investors a full range of financial services including custody and staking. Finoa’s intuitive platform enables users to securely store and manage their assets regardless of their level of familiarity with crypto. As a regulated custodian (§64y KWG) the company serves high-profile clients from around the world, including renowned venture capital firms, crypto hedge funds, corporates, and high-net-worth individuals.

About Audius

Audius is a music streaming service controlled by a decentralized community of independent artists, fans, and developers with a common cause: to free the world’s music. With Audius, artists can directly distribute and monetize their work, and fans can discover and share new music on the blockchain. The company is venture-backed by General Catalyst, KPCB, Lightspeed, and Pantera. CEO Roneil Rumburg and CPO Forrest Browning, both life-long music fans, successful tech entrepreneurs, and crypto enthusiasts, co-founded Audius in February 2018.

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