Blockdaemon Acquires DeFi Connectivity Firm Expand.network to Bring Institutions to Web3

Blockdaemon Acquires DeFi Connectivity Firm, Expands to Bring Institutions Web3 Access

expand.network offers API access to DeFi, allowing you to connect to over 170 endpoints including DEXs, bridges, lending protocols, and oracles.

Author: Ian Ellison | Edited by Oliver Knight Updated 19 Mar 2025 20:13 UTC Published 19 Mar 2025 1:00 UTC

What you need to know:

• Blockdaemon, backed by the likes of Goldman Sachs, provides support to approximately 70% of the Fortune 500 cryptocurrency companies.
• The exact amount paid for expand.network was not disclosed, but Blockdaemon said the deal was in the double-digit millions of dollars.

Blockdaemon, a leading cryptocurrency infrastructure provider, has acquired expand.network, a single API connection to the diverse world of decentralized finance (DeFi), with the goal of providing large financial institutions with easy access to on-chain trading.

While the exact price paid for expand.network has not been disclosed, Blockdaemon said the deal was worth double-digit millions of dollars. The company provides API access to DeFi, allowing connections to over 170 endpoints, including DEXs, bridges, lending protocols, and oracles.

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As long-awaited clarity on cryptocurrency regulation in the US approaches, banks and major financial institutions are beginning to consider integrating into blockchain finance.

Blockdaemon, whose backers include banks like Goldman Sachs, powers around 70% of the top 500 cryptocurrency organizations, operating over 250,000 nodes across 40 data centers, as well as providing staking rewards management and, most recently, developing cross-blockchain self-custody wallets for major players.

Konstantin Richter, founder and CEO of Blockdaemon, emphasized that the next logical step is for banks and institutions to provide easy access to the complexities of DeFi lending, borrowing, and automated liquidity through Blockdaemon's compatible, staking-ready wallets.

“DeFi will significantly reduce the cost of financial infrastructure for banks and institutions, and that’s where a lot of the institutional benefits will emerge over time,” Richter said in an interview. “It’s still very early days, and of course there’s a lot to do in terms of regulatory clarity, adoption, and decentralization. But now is the time to accelerate this particular vertical in our product portfolio.”

UPDATE (March 19, 13:10 UTC): Changes from Expand to expand.network

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