Blockdaemon Acquires DeFi Connectivity Firm Expand to Bring Institutions to Web3

**🚨 Crypto Convergence: Blockdaemon’s DeFi Dreamcatcher 🚨**

What to know, dear reader:

Blockdaemon, that esteemed darling of Goldman Sachs, has been busy assisting around 70% of the top 500 institutions active in crypto – a veritable crypto cabal.
The exact price paid for expand.network was not revealed, but Blockdaemon said the deal was worth double digit millions of dollars – a sum that would make even the most seasoned of bureaucrats raise an eyebrow.

And so, dear reader, we find ourselves in the midst of a grand adventure, as Blockdaemon, a leading provider of crypto infrastructure, has acquired expand.network, a single API connection into the mystical realm of decentralized finance (DeFi). Their aim? To enable big financial institutions to seamlessly access on-chain trading, because, as we all know, nothing says “seamless” like the Byzantine complexities of DeFi.

The exact price paid for expand.network was not revealed, but Blockdaemon said the deal was worth double digit millions of dollars. The firm provides API access to DeFi, enabling connections to over 170 endpoints, including DEXs, bridges, lending protocols, and oracles – a veritable smorgasbord of DeFi delights.

As the winds of regulatory clarity begin to blow in the U.S., banks and large financial institutions are considering a point of entry into the on-chain finance world, because, as the saying goes, “you can’t keep a good institution down” – or can you?

Blockdaemon, which counts banks like Goldman Sachs among its backers, assists around 70% of top 500 institutions active in crypto, which includes running over 250,000 nodes across 40 data centers, as well as handling staking rewards, and more recently establishing cross-blockchain, self-custody wallet offerings for big players – because, as we all know, nothing says “big player” like a self-custody wallet.

The next logical step for banks and institutions is providing easy access via Blockdaemon’s interoperable, staking-ready wallets into the complex realm of DeFi lending, borrowing, and automated liquidity – because, as the great philosopher, Konstantin Richter, founder and CEO of Blockdaemon, once said, “DeFi will make the running financial infrastructure a lot cheaper for banks and institutions and it’s where a lot of institutional benefits will reside over time” – or, in simpler terms, “DeFi is the future, and the future is now, and also maybe later, but definitely soon.”

UPDATE (March, 19, 13:10 UTC): changes from Expand to expand.network – because, as we all know, a simple name change can make all the difference in the world of DeFi.

2025-03-19 16:19

What to know, dear reader:

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