Blockdaemon, a provider of Web3 infrastructure, is contemplating the possibility of launching an initial public offering (IPO) in 2026. This information comes from a Bloomberg News report dated September 19, which references an interview with the company’s founder, Konstantin Richter.
Richter indicated to Bloomberg, “Let’s see how 2025 shapes up, and I believe 2026 could be the year we consider pursuing an IPO.”
He expressed a preference for listing Blockdaemon in Hong Kong rather than the United States, citing apprehensions regarding the regulatory landscape for Web3 enterprises in the U.S. Richter also emphasized that Asia represents a key area for growth for Blockdaemon, with plans to significantly increase its workforce in the region by 2025. He anticipates an improvement in the U.S. regulatory environment following the upcoming elections, irrespective of the election results, as reported by Bloomberg.
Blockdaemon has not yet provided a response to Cointelegraph’s request for comment.
Blockdaemon provides staking services for institutions. Source: Blockdaemon
In related news, the advent of restaking is expected to trigger a major influx of capital into the cryptocurrency market. Blockdaemon offers a comprehensive array of blockchain infrastructure solutions tailored for institutions. These include non-custodial wallets, nodes, programming interfaces for various blockchains, and staking-as-a-service.
The platform, which Blockdaemon refers to as a “node stack,” consists of a diverse range of products designed to assist institutions in navigating the blockchain landscape.
Other companies, such as Figment and Kiln, also provide staking services to U.S. financial institutions. Staking involves securing blockchains like Ethereum, Solana, and Avalanche by depositing cryptocurrency as collateral with validators in return for network fees.
Staking yields rewards across various digital assets. Source: StakingRewards.com
Several other Web3 infrastructure firms, including Circle Internet Financial, are also considering a public market entry. Circle, known for managing USD Coin (USDC), a popular stablecoin, has already submitted a draft registration for an IPO to the U.S. Securities and Exchange Commission, as announced on January 10.
In 2022, Blockdaemon successfully raised $207 million in a private funding round, which valued the company at approximately $3.25 billion, according to their statement.
Blockchain infrastructure companies are increasingly becoming staples in the U.S. financial markets as more cryptocurrency investment products receive regulatory approval. Exchange-traded funds (ETFs) that hold spot Bitcoin (BTC) and Ether (ETH) entered the U.S. market in January and July, respectively, and now collectively manage over $60 billion in assets, based on data from fund researcher Morningstar.
Since its inception in 2017, Blockdaemon has catered to more than 400 institutional clients and received backing from notable Wall Street firms such as Goldman Sachs, JPMorgan Chase, and Citi Ventures.
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