Blockdaemon acquires Sepior

Crypto infrastructure specialist Blockdaemon is continuing its M&A spree with the purchase of Danish startup Sepior.

Sepior provides various key management services for institutional clients. The sum of the transaction was not detailed in the official release.

Blockdaemon managed to successfully raise funds back in January, adding $207m in fresh capital at the time.

While the exact value of the most recent purchase is not known, it’s likely that Blockdaemon has been able to use its position as a bigger entity to receive a discount.

Blockdaemon is also growing actively, following in the footsteps of other companies which have been affected heavily by the most recent crypto crash, such as Celsius Network and Voyager.

However, company CEO Konstantin Richter is confident that Blockdaemon’s strategy of acquisition is set to pay off.

The firm is building on a much broader ambition to be a “one-stop shop” for institutions using crypto.

Blockdaemon will ideally one day be in charge of the backend including on and off ramping, node APIs, high-availability clusters for transactions, liquid staking, staking, and more.

Blockdaemon hopes to achieve this while ensuring that the institutions themselves get to use an intuitive and understandable user interface. To get there, Blockdaemon is set to continue acquiring assets.

Institutional investors are showing interest in the crypto space. BNP Paribas announced that it’s entering the custody space, and there have been other banks that are now exploring the space.

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Source

Updated: 07/21/2022 — 13:00