Blockdaemon buys expand.network to improve DeFi access

Blockdaemon buys expand.

• Blockdaemon has agreed to acquire expand.network, aiming to integrate its multi-blockchain connectivity solutions into Blockdaemon’s infrastructure.
• The acquisition enhances Blockdaemon’s ability to offer a unified API, streamlining DeFi transactions and on-chain data access for institutional clients.

What happened: Blockdaemon acquires expand.network to enhance DeFi connectivity

Blockdaemon, a blockchain infrastructure firm specializing in institutional node management and staking services, has entered into a binding agreement to acquire expand.network, a company that provides an API service enabling connections across multiple blockchains and decentralized finance (DeFi) protocols. The financial terms of the deal were not disclosed.

Founded in 2023, expand.network offers functionalities such as data queries, transaction execution, trade decoding, liquidity management, and compliance checks. Blockdaemon plans to integrate expand.network’s technology into its existing infrastructure to provide a unified API for DeFi transactions and on-chain data sourcing.

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Why it’s important

This acquisition marks Blockdaemon’s fifth since 2021, reflecting its ongoing strategy to broaden service offerings and strengthen its position in the blockchain infrastructure sector. By incorporating expand.network’s capabilities, Blockdaemon aims to simplify blockchain connectivity for businesses, facilitating seamless integration with various DeFi protocols. This move is expected to enhance the accessibility and efficiency of blockchain transactions for institutional clients.