Blockdaemon acquisition of DeFi connectivity provider Expand helps institutions access on-chain trading.

According to ChainCatcher news and reported by CoinDesk, Blockdaemon, a leading provider of crypto infrastructure, has acquired expand.network, a company that provides a single API connection service for DeFi (Decentralized Finance), aimed at helping large financial institutions seamlessly access on-chain transactions. Although the specific acquisition price has not been disclosed, Blockdaemon stated that the deal is worth tens of millions of dollars. Expand offers API access services for DeFi, supporting connections to over 170 endpoints, including decentralized exchanges (DEX), cross-chain bridges, lending protocols, and Oracle Machines. Konstantin Richter, the founder and CEO of Blockdaemon, stated in an interview: “DeFi will significantly reduce the costs for banks and institutions running financial infrastructure, which is also a field where institutions can benefit in the long term. Although this area is still in its early stages and there is much work to be done in terms of regulatory clarity, adoption rates, and decentralization, now is the right time to accelerate this specific vertical in our product suite.”