BlockDaemon, a leading cryptoin-fry provider, has acquired expansion.network, a single API connection to the diverse world of decentralized financing (DEFI), in order to enable large financial institutions to have to have access to chain trading in trafficking.
The exact price paid for extension was not revealed, but Blockdaemon said the deal was worth double -digit millions of dollars. Expanding provides API access to DEFI that enables connections to over 170 final points, including DEXS, bridges, loan protocols and oracles.
As long-awaited legislative clarity comes to crypto in the United States, banks and large financial institutions are considering an entrance point in the on-chain financial world.
Blockdaemon, which counts banks like Goldman Sachs among his backers, helps about 70% of the 500 best institutions active in crypto, which includes running over 250,000 nodes on 40 data centers as well as dealing with stack wages and recently establishing cross -blockchain, self -sufficiency signs for big players.
The next logical step of banks and institutions is to provide easy access via Blockdaemon’s interoperable, steady wallets in the complex area of defi loan, borrowing and automated liquidity, said Konstantin Richter, founder and CEO of Blockdaemon.
“Defi will make the ongoing financial infrastructure much cheaper for banks and institutions, and this is where many institutional benefits will stay over time,” Richter said in an interview. “It is still very early, and there is obviously much that still has to happen in terms of legislative clarity, adoption and decentralization. But the time has come to speed up the special vertical in our product package.”
