Korean crypto financial institution companions with Blockdaemon to supply retail staking providers

Crypto-focused finance firm Delio has partnered with Blockdaemon to launch retail-focused staking providers, giving clients a extra seamless strategy to earn rewards on their digital asset holdings.

Delio’s staking providers increase its present crypto-bank choices, which embrace lending, deposits and deposit accounts, the corporate introduced Thursday. The brand new service providing is powered by blockchain infrastructure supplier Blockdaemon, which offers a collection of institutional staking merchandise.

Whereas Delio didn’t specify which crypto belongings might be included within the new staking providers, Blockdaemon presently helps integration with over 60 blockchains. Delio consultant James Jung additionally clarified that the agency additionally plans “to supply a wide range of crypto asset monetary providers for customers exterior of Korea.”

Based in 2017, Blockdaemon achieved unicorn status final yr after securing $155 million in a Collection B funding spherical. Within the startup world, a unicorn is an organization that achieves a valuation of $1 billion or extra. On the time, Blockdaemon was valued at simply over $1.25 billion.

Associated: All ‘Ethereum killers’ will fail: Blockdaemon’s Freddy Zwanzger

In the meantime, Delio seems to be increasing its crypto-finance choices after receiving a Digital Asset Service Supplier (VASP) license from the Korean Monetary Intelligence Unit. Delio claims to be the primary crypto firm in South Korea to acquire a VASP for lending and deposit providers.

Regardless of market turmoil and controversy surrounding the collapse of the Terra ecosystem, Korea stays a big and essential participant within the world crypto enviornment. As such, President Yoon Suk-yeol, who took workplace this previous Might, has adopted a positive strategy towards digital asset regulation within the nation. As reported by Cointelegraph, Korea’s monetary watchdog is trying to expedite the evaluate of 13 crypto-focused bills tabled to the nation’s Nationwide Meeting.