Brighty and Blockdaemon Introduce Institutional Ethereum Staking
Swiss neobank Brighty App has partnered with staking provider Blockdaemon to introduce an institutional-grade Ethereum (ETH) staking solution. Brighty App aims to provide customers with access to multicurrency and cryptocurrency accounts, as well as instant exchanges between crypto and fiat currencies. Through the partnership with Blockdaemon Stake, users will be able to stake ETH and potentially earn rewards. Luke Dorney, General Manager & VP of Sales EMEA at Blockdaemon, stated that the collaboration will combine traditional banking with crypto banking and provide both institutional and private users with access to the best of both worlds. Users will deposit and hold ETH in their wallets, stake their tokens with Blockdaemon, and receive sETH-h receipt tokens representing the staked ETH. Nikolay Denisenko, Co-Founder and CTO at Brighty App, highlighted that the collaboration will empower customers to unlock new opportunities in the crypto space while maintaining security and regulatory compliance. The solution also offers access to an institutional-grade liquid staking solution, where users can withdraw their receipt tokens on-demand, use Brighty App’s CeFi service that utilizes DeFi in vault yielding strategies, fulfill institutional liquidity needs via partnerships, access robust KYC and AML processes, avoid penalized validators, and stake ETH via an audited service.