Blockdaemon, one of the main cryptographic infrastructure providers, has acquired Expand.network, a single API connection in the multifaceted world of decentralized finance (DEFI), with a view to allowing large financial institutions to access negotiations in a transparent manner.
The exact price paid for expand.network has not been revealed, but Blockdaemon said the agreement was worth millions of two -digit dollars. The company provides API access to DEFI, allowing connections to more than 170 termination points, including Dex, Bridges, Loan Protocols and Oracles.
The long-awaited regulatory clarity comes from the crypto in the United States, banks and large financial institutions are considering an entry point into the world of chain finance.
Blockdaemon, which has banks like Goldman Sachs among its donors, helps around 70% of the 500 best institutions active in Crypto, which includes more than 250,000 nodes in 40 data centers, as well as the management of implementation awards, and more recently to establish offers of Auto-Castody portfolio for major players.
The next logical step for banks and institutions is to provide easy access via interoperable portfolios and ready for blockdaemon static in the complex area of loans, obstacles and automated liquidity, said Konstantin Richter, founder and CEO of Blockdaemon.
“DEFI will make financial infrastructure much cheaper for banks and institutions and this is where many institutional advantages will reside over time,” said Richter in an interview. “It is still very early and there are obviously many things that still have to happen in terms of regulatory clarity, adoption and decentralization. But the time has come to accelerate this particular vertical within our product suite. ”
Update (March 19, 13:10 UTC): Extension modifications to Expand.network
