Home CryptocurrencyAltcoin Korean crypto bank partners with Blockdaemon to offer retail betting services

Korean crypto bank partners with Blockdaemon to offer retail betting services

by SuperiorInvest

Crypto-focused finance company Delio has partnered with Blockdaemon to launch a retail betting service that provides a smoother way for customers to earn rewards for their digital asset holdings.

Delio announced on Thursday that Delio’s betting services are expanding its existing crypto banking offerings, which include loans, deposits and deposit accounts. The new service offering is powered by blockchain infrastructure provider Blockdaemon, which provides a suite of institutional staking products.

While Delio did not specify which crypto assets will be included in the new staking services, Blockdaemon currently supports integration with more than 60 blockchains. Delio representative James Jung also clarified that the company also plans to “offer various crypto-asset financial services for users outside of Korea.”

Founded in 2017, Blockdaemon has achieved unicorn status last year after securing $155 million in Series B funding. In the startup world, a unicorn is a company that achieves a valuation of $1 billion or more. At the time, Blockdaemon was valued at just over $1.25 billion.

Related: All “Ethereum Killers” Fail: Blockdaemon’s Freddy Zwanzger

Meanwhile, Delio appears to be expanding its crypto-financial offerings after receiving a Virtual Asset Service Provider (VASP) license from the Korean Financial Intelligence Unit. Delio claims to be the first crypto company in South Korea to acquire VASP for lending and deposit services.

Despite the market turbulence and the controversy surrounding the collapse of the Terra ecosystem, Korea remains a large and important player in the global crypto arena. such, President Yoon Suk-yeol, who took office this May, has adopted a favorable approach to the regulation of digital assets in the country. As Cointelegraph reports, the Korean financial watchdog is trying to speed up the review 13 notes focused on cryptocurrencies submitted to the country’s National Assembly.

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