Blockdaemon, VerifiedX Plan to Bring Institutional-Grade DeFi to Mass-Market Users
Blockdaemon and VerifiedX are partnering to integrate institutional DeFi features into consumer apps for easier mass adoption.Summary
Crypto infrastructure provider Blockdaemon and Bitcoin sidechain VerifiedX are collaborating to simplify everyday crypto use for non-technical users by integrating institutional-grade infrastructure into VerifiedX's consumer applications, the Switchblade self-custody wallet and the Butterfly social payments platform. This initiative aims to offer features like earning yield on Bitcoin and stablecoins, borrowing against holdings, and accessing onchain credit markets, all while providing a user experience similar to familiar fintech apps like Venmo or Cash App, thereby abstracting away complexities like seed phrases and traditional Web3 workflows. Blockdaemon will supply the technical backbone, including node operations and staking, while VerifiedX will manage the user experience, addressing the common hurdle of clunky user interfaces hindering mass adoption in the crypto space.
(Source：CoinDesk)