Blockdaemon acquires DeFi connectivity provider Expand Network

ChainCatcher news, according to CoinDesk, leading crypto infrastructure provider Blockdaemon has acquired expand.network, a company that offers 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 was not disclosed, Blockdaemon stated that the deal is worth tens of millions of dollars. Expand provides API access services for DeFi, supporting connections to over 170 endpoints, including decentralized exchanges (DEX), cross-chain bridges, lending protocols, and oracle services.

Blockdaemon founder and CEO Konstantin Richter stated in an interview: "DeFi will significantly reduce the cost for banks and institutions to operate financial infrastructure, which is also an area where institutions can benefit in the long term. While this field is still in its early stages, there is much work to be done in terms of regulatory clarity, adoption rates, and decentralization, but now is the right time to accelerate our product suite in this specific vertical."