SCRYPT Digital, the Swiss-regulated company offering a single point of access into digital assets for institutions, has been chosen by Kiln, the tech provider behind the first enterprise-grade liquid staking protocol, in order “to provide a seamless on/off-ramping service for its treasury.”
The partnership will allow Kiln “to convert from crypto to fiat or other cryptocurrencies seamlessly. As its default revenue model, Kiln collects a performance fee – a commission rate on the staking rewards generated for customers.”
As most of Kiln’s income is in crypto assets, it will now “benefit from SCRYPT Digital’s off-ramping service – allowing it to liquidate or convert staking rewards effectively when needed.”
This service will allow Kiln “to be agile in making treasury management decisions which is important when managing risk during volatile market conditions.”
Through partnerships with various providers and its proprietary technology, SCRYPT Digital offers “a complete best-in-class suite of services to institutions, including execution, custody, staking, market making and investment services.”
SCRYPT Digital “streams 24/7/365 with a 99.99% uptime, achieving optimal trading conditions and superior execution using its Smart Order Routing (SOR) algorithm.”
Norman Wooding, Founder and CEO at SCRYPT Digital, said:
“We are proud to be partnered with Kiln. SCRYPT Digital puts risk management and quality service above all else and we are happy to provide a service that will be invaluable to Kiln – particularly in a turbulent market. As SCRYPT Digital has a 99.99% uptime and superior execution – we can offer Kiln the best environment to convert its assets whenever its needed.”
Laszlo Szabo, CEO and co-founder of Kiln, said:
“We’re pleased to use SCRYPT Digital’s services to facilitate our crypto-to-fiat conversions. This type of service is extremely valuable to help us manage risk and to better manage our treasury, especially in these volatile market conditions. This is the last step of an already fruitful partnership with SCRYPT Digital, as they already use our staking products, and we are already thinking about extending our collaboration.”
