Blockdaemon acquires expand.network to boost DeFi connectivity for businesses
Blockdaemon, a blockchain infrastructure firm providing institutional node management and staking services, has entered into a binding agreement to acquire expand.network for an undisclosed sum.
Blockdaemon acquires expand.network
Blockdaemon says the deal will further facilitate its “ability to connect businesses to blockchains with one integration”.
Launched in 2023, expand.network provides an API service that enables institutions, wallet providers, and other digital asset participants to connect across multiple blockchains and decentralised finance (DeFi) protocols.
Led by co-founder and CEO Demetrios Skalkotos, expand.network supports a range of functionalities, including data queries, transaction execution, and tools for trade decoding, liquidity management, and compliance checks.
Blockdaemon will integrate expand.network’s technology into its existing infrastructure and node management tools to offer a “unified API for transacting in DeFi and sourcing on-chain data”.
The US-based Web3 firm, backed by the likes of Citi, JP Morgan, and Goldman Sachs, currently manages over 200,000 nodes across 40 locations, and has secured approximately $110 billion in assets for clients since its founding in 2017.
The deal marks Blockdaemon’s fifth acquisition to date, following its purchases of Anyblock Analytics and staking and governance platform Lunie in 2021, and crypto on-ramp API company Gem and data and digital asset security firm Sepior in 2022.
