Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
Blockchain infrastructure provider Blockdaemon Inc. plans to consider an initial public offering in 2026, according to its CEO Konstantin Richter.
Richter told Bloomberg on Thursday that the company’s decision will depend on market conditions over the next year. If the market is favorable, Blockdaemon could potentially go public in 2026, which would mark its ninth year of operation.
Since its establishment in 2017, Blockdaemon has carved a niche in the blockchain infrastructure industry by focusing on deploying nodes, staking services and API access for various blockchain platforms. Headquartered in the US, the company has expanded its operations to support over 60 blockchain networks.
According to Richter, Blockdaemon’s current valuation is about $3.3b. He told Bloomberg the firm prefers a listing in Hong Kong instead of the US, citing the current unfavorable crypto regulatory landscape. However, he expects the regulatory situation to improve after the US elections in November, regardless of the outcome.
Asia is a key growth market for the business, and the company plans to double its team size in the region within the next year, he added.
In 2021, Blockdaemon raised $28m in a Series A funding round led by Greenspring Associates, with participation from Goldman Sachs, BlockFi, Warburg Serres, Uphold and Hard Yaka.
Blockdaemon’s client base includes prominent names like Fortune 500 companies, banks, custodians, and trusts. These include Blockchange, Plaid, Citibank, Goldman Sachs and B2C2. It also supports a range of blockchain networks including ETH 2.0, Bitcoin, Cardano, Polkadot, Cosmos,
Read more on cryptonews.com