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Blockchain infrastructure provider Blockdaemon Inc. is contemplating an initial public offering in 2026, as stated by its CEO Konstantin Richter.
Richter informed Bloomberg on Thursday that the company’s choice will be influenced by market conditions over the upcoming year. Should the market be favorable, Blockdaemon may proceed with its public offering in 2026, coinciding with its ninth year of operation.
Since its founding in 2017, Blockdaemon has established a presence in the blockchain infrastructure sector by concentrating on the deployment of nodes, staking services, and API access for various blockchain platforms. Based in the US, the company has broadened its operations to encompass support for over 60 blockchain networks.
IPO Preference for Hong Kong vs. US
Richter noted that Blockdaemon’s current valuation stands at approximately $3.3 billion. He mentioned to Bloomberg that the firm favors a listing in Hong Kong over the US, pointing to the current challenging crypto regulatory environment. Nevertheless, he anticipates that the regulatory landscape will improve following the US elections in November, irrespective of the results.
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Asia represents a significant growth market for the company, and Richter added that they aim to double their team size in the region within the next year.
In 2021, Blockdaemon secured $28 million in a Series A funding round led by Greenspring Associates, with contributions from Goldman Sachs, BlockFi, Warburg Serres, Uphold, and Hard Yaka.
Blockdaemon Clientele Includes Citibank, Plaid and Goldman Sachs
Blockdaemon’s clientele features notable entities such as Fortune 500 companies, banks, custodians, and trusts. This includes Blockchange, Plaid, Citibank, Goldman Sachs, and B2C2. The company also provides support for a variety of blockchain networks, including ETH 2.0, Bitcoin, Cardano, Polkadot, Cosmos, SKALE, MobileCoin, and the Lightning Network.
This varied clientele demonstrates that businesses rely on Blockdaemon for managing functions such as node operations and staking, where cryptocurrencies are secured to facilitate blockchain network activities and earn rewards.
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