Share this article
Blockdaemon, VerifiedX Join Forces to Deliver Mass-Market, Self-Custodial DeFi
The experience, which is designed to feel like Venmo or Cash App, allows users to earn yield on bitcoin (BTC) and stablecoins and borrow against their holdings.
Dec 4, 2025, 4:00 p.m.
Make us preferred on Google
What to know:
- Crypto infrastructure provider Blockdaemon and Bitcoin sidechain VerifiedX are rolling out a major upgrade to make everyday crypto use far simpler for non-technical users.
- The experience is designed to feel closer to Venmo or Cash App than a traditional Web3 workflow.
- Crypto/DeFi/Web3 platforms often struggle with mass adoption primarily because their user experience is often clunky, complex and intimidating to the average user.
Crypto infrastructure provider Blockdaemon and Bitcoin sidechain VerifiedX said they are teaming up to make everyday crypto use simpler for non-technical users.
The move, which encompasses earning yield to sending money abroad, will see the same staking and blockchain infrastructure that Blockdaemon provides to banks and asset managers integrated into VerifiedX’s two consumer apps: the Switchblade self-custody wallet and the Butterfly social payments platform, according to an announcement shared with CoinDesk on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The experience is designed to feel closer to Paypal's (PYPL) Venmo or Block's (XYZ) Cash App social payment apps than a traditional Web3 workflow. Users can earn yield on bitcoin and stablecoins, borrow against their holdings and access onchain credit markets without parking funds on an exchange, dealing with custodians or juggling seed phrases (the long stream of random words that users need to back up and recover their assets), the firms said.
Blockdaemon supplies the technical backbone, including node operations, staking systems and liquidity management, while VerifiedX handles the user experience, including payments, merchant transactions and simple asset transfers. The combination is meant to bring self-custodial DeFi features to people who have no interest in navigating dashboards or connecting on-chain wallets.
Crypto/DeFi/Web3 platforms often struggle with mass adoption primarily because their user experience is often clunky, complex and intimidating to the average user. due to unfamiliar concepts like wallets and seed phrases, a process that offers a steep learning curve and high risk of irreversible error.
This highlights the need for these platforms to emulate the simplicity of popular fintech apps, which hide the technical complexities of sending, receiving and managing money from the user and simplify the process to functions like email and password logins and two-factor authentication.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
