VerifiedX and Blockdaemon announced a strategic partnership on November 27, 2023, to broaden scalable DeFi access for both retail and institutional users. The agreement connects a consumer-focused wallet and settlement framework with institutional-grade infrastructure to simplify self-custodial, cross-chain interactions.
VerifiedX and Blockdaemon Join Forces to Expand Self-Custodial DeFi
The collaboration centers on VerifiedX’s VFX SwitchBlade Wallet and its universal settlement layer, designed to abstract on-chain complexity for end users. The wallet integrates on/off-ramp services and crypto payment features so that saving, spending, payments, and access to yield and credit resemble the UX of mainstream payment apps while preserving private-key control. Self-custody is explicitly defined as users retaining exclusive control of their private keys, allowing direct authority over asset transfers and transaction finality through non-custodial rails.
Blockdaemon will supply the connective and operational layers, highlighting that it manages over $110 billion in digital assets for more than 400 institutional clients and maintains 99.9% uptime across more than 50 networks. A key component is the planned integration of expand.network, a single DeFi API exposing 50+ blockchains and 170+ endpoints to eliminate per-protocol integration work.
The combined stack targets two persistent barriers: multi-chain interoperability and enterprise trust. Blockdaemon’s compliant infrastructure, including its “Earn Stack” for staking and DeFi rewards, is positioned as the reliability and security layer that institutional treasury teams require for non-custodial capital routing.
The partnership explicitly acknowledges regulatory frictions by incorporating AML and KYC considerations into its operating narrative. This design choice reflects an effort to balance institutional onboarding with user self-custody, creating a governance tension that will merit close monitoring. While large institutional flows can enhance liquidity, they may also concentrate economic power and introduce governance risks.
For traders and crypto treasuries, the integration reduces technical integration costs and execution friction across chains. For DAOs, the partnership implies potential shifts in voting power distribution as institutional participants gain easier access to on-chain yield and governance tokens. Delegation patterns and vote concentration will become practical governance indicators.
The alliance ultimately combines a consumer wallet experience with a multi-protocol institutional backbone to lower barriers to self-custodial DeFi. Its broader impact will depend on the speed of expand.network integration and the scale of institutional capital inflows, which together will shape liquidity and governance outcomes.
