The investment bank seems to have turned around in crypto with its support of the blockchain infrastructure platform.
Blockchain infrastructure platform Blockdaemon yesterday announced the completion of a Series A funding round in which it raised $ 28 million. The round was led by Greenspring Associates with support from Goldman Sachs, BlockFi, Uphold and previous seed round investors CoinShares, Kenetic and Blockchain.com.
Blockdaemon provides a platform for staking, scaling, and provisioning nodes to power the blockchain economy. The platform supports more than 40 different protocols, including Bitcoin, the Lightning Network, ETH 2.0, Polkadot, Cardano and Cosmos. A number of companies and institutions use the infrastructure of Blockdaemon, such as exchanges, trading desks, blockchain foundations and banks.
Blockdaemon founder and CEO Konstantin Richter commented: “With investments from industry-leading financial technology providers and VC firms, this round will allow us to continue expanding our node infrastructure services, reinforcing our growing team and strengthening our presence in emerging markets around the world, while deepening our existing strategic relationships with global companies Financial institutions. “
Blockdaemon has already seen significant growth. With an average of over $ 5 billion in assets tied, Blockdaemon expects that number to climb to over $ 50 billion by the end of the year. The team also grew that year with the appointment of a new Global Senior Vice President of Sales and COO. In the last 12 months alone, Blockdaemon has deployed 10,000 nodes in 40 blockchains in 20 regions worldwide.
Goldman Sachs appears to have turned around in cryptocurrencies. Just last year, the investment bank came to the conclusion that crypto is not an asset class. In its report “Crypto: A New Asset Class?” Published last month, it then seemed to be more open-minded. And now Goldman Sachs is supporting blockchain development with its block daemon investment.
North American Head of Digital Assets at Goldman Sachs, Oli Harris, stated: “Blockchain is an important driver of innovation in the financial services industry and block daemon drives its infrastructure. We look forward to working with them as they continue to provide blockchain technology at an institutional level to anyone who wishes to use it. “
Blockdaemon has already posted 1,000% revenue growth this year and intends to use its funds for targeted acquisitions to accelerate future growth.