As a seasoned analyst with over two decades of experience in the financial industry, I find Blockdaemon’s potential public listing in 2026 intriguing. The company’s impressive client base and significant funding rounds suggest a robust business model that is well-positioned to capitalize on the growing demand for blockchain infrastructure solutions.
Blockchain service provider Blockdaemon, currently supporting institutions like OneDegree and CoinShares, might be considering going public with an IPO (Initial Public Offering) by the year 2026.
The crypto infrastructure service provider Blockdaemon, which has the backing of companies like Goldman Sachs, SoftBank, and Kraken, among others, is considering an initial public offering (IPO) in the year 2026.
During a conversation with Bloomberg, the company’s founder and CEO, Konstantin Richter, mentioned that they are considering the state of the market in 2025 before making any major decisions, given their current valuation of approximately $3.3 billion.
Established in 2017, Blockdaemon has amassed a customer base of more than 400 institutional clients. In September 2021, the company managed to raise $155 million during its Series B funding round, with investors like Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital participating in the fundraising.
According to Richter, Hong Kong presents a more advantageous setting for an initial public offering (IPO) compared to the United States, where the regulatory climate for cryptocurrency is particularly unfavorable at present. Nevertheless, he anticipates that conditions in the U.S. will likely improve following the November elections, regardless of their outcome.
The CEO of Blockdaemon, who believes Asia is crucial for the company’s expansion, mentioned that they aim to nearly double their regional workforce within a year, without revealing specific numbers.
In spite of Hong Kong’s allure for cryptocurrency listings, startups in this city still encounter hurdles. Web3 businesses persistently grapple with difficulties in opening bank accounts because of strict regulatory norms and the conservative approach of conventional banks. As crypto.news previously reported, Johnny Ng, a member of Hong Kong’s Legislative Council, has advocated for an enhancement in the regulatory environment; however, these concerns continue to discourage numerous foreign entities from setting up local operations.
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2024-09-19 11:28