Korean crypto bank partners with Blockdaemon to offer retail staking services

Korean crypto bank partners with Blockdaemon to offer retail staking services

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In January, Delio was granted Digital Asset Service Suppliers (VASP) approval by the Korean Monetary Intelligence Unit.
Crypto-focused finance firm Delio has partnered with Blockdaemon to launch retail-focused staking companies, giving prospects a extra seamless technique to earn rewards on their digital asset holdings.
Delio’s staking companies increase its current 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 property will probably be included within the new staking companies, Blockdaemon at the moment 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 companies for customers exterior of Korea.”
Based in 2017, Blockdaemon achieved unicorn status final 12 months 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 companies.
Hey, Seoul!

The fifth annual Korea Blockchain Week kicked off on Sunday, with greater than 7,000 folks attending Asia’s largest blockchain occasion of 2022.

Cointelegraph has been on the occasion, and we have now all of the highlights for you. Bookmark this thread ! #KWB2022 pic.twitter.com/gCuXN2TlRf
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 good method towards digital asset regulation within the nation. As reported by Cointelegraph, Korea’s monetary watchdog is trying to expedite the assessment of 13 crypto-focused bills tabled to the nation’s Nationwide Meeting.

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