XTZ gains 11% as Swiss firms use Tezos to get new token standard

The price of XTZ, the token underpinning the Tezos blockchain, has soared by 11.1% in the past 24 hours, hitting a 12-week high.

According to CoinGecko, XTZ reached $4.38 on Tuesday morning, before sliding to $4.30 by press time.

Currently, XTZ is the 45th largest cryptocurrency with a market capitalization of $3.6 billion.

The uptick in price comes after a group of Swiss-based blockchain and financial companies–Crypto Finance Group, InCore Bank, and Inacta–selected the Tezos blockchain as partner to provide compliant digital financial products.

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