
Stephan Livera Podcast A semi-custodial model for Bitcoin? with Jos Lazet | SLP718
Feb 10, 2026
Jos Lazet, founder and CEO of BlockRise and Bitcoin advocate since 2013, explains BlockRise’s semi-custodial model and hybrid custody approach. He discusses Bitcoin price volatility, risk management for lending, liquidation mechanics, fiat integration in Europe, and the evolving landscape of Bitcoin lending and product innovation.
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Negative Control And Client Assurance
- Regulators label some models 'negative control' where providers prevent access but cannot spend client funds.
- BlockRise emphasizes transparency and that clients retain keys enabling withdrawals even if BlockRise is offline.
Use Complementary Custody Setups
- Treat custody as a spectrum and combine multiple solutions for different uses.
- Keep a phone/lightning wallet for daily use, a warm setup for frequent needs, and cold storage for long-term holdings.
Euros Reduce Stablecoin Demand
- Euro banking (SEPA) makes fiat rails efficient in Europe, reducing the need for euro stablecoins.
- BlockRise removed stablecoin support because direct bank integration handled large euro transfers faster and cheaper.

