(Rejected) South Korean Crypto Bank Delio Has Partnered with Blockdaemon to Launch Retail Staking Services

South Korean digital asset finance bank Delio announced Thursday that it has partnered with Blockdaemon to launch a retail-focused staking service, expanding its existing crypto banking offerings to include loans, deposits, and deposit accounts.

Delio is a cryptocurrency-related Web 3.0 company founded in 2018. In January, Delio was approved by South Korea's Financial Intelligence Agency's Virtual Asset Service Provider (VASP) to provide digital asset financial services including savings/lending/DEX/ Asset management/NFT.

Its Delio subsidiary in America obtained a U.S. MSB (Money Services Business) license.

Through this cooperation, Blockdaemon, a blockchain infrastructure unicorn with a valuation of more than $1.25 billion, will provide a set of institutional pledge products.

The launch of the retail staking service will provide customers with a more reliable, secure, and seamless way to earn rewards for digital assets.

It has not been specified which cryptocurrencies will be included in the new staking service, but Blockdaemon is currently integrated with more than 60 blockchains.

Delio representative James Jung said the company also plans to provide various crypto-asset financial services to users outside of South Korea.

Since its establishment in 2018, Delio has been leading the Korean crypto financial market by providing various financial services related to digital assets, including savings and lending products. In 2021, the cumulative savings/loan performance will reach 2.4 trillion won.

Delio became a unicorn last year after it was listed as the top digital asset company in South Korea and raised $155 million in Series B funding.

"Crypto banking" refers to a variety of financial services provided by traditional commercial banks, such as deposits, loans, asset transactions,s and withdrawal of crypto assets.