TechFlow news — On March 19, according to CoinDesk, Blockdaemon, a leading provider of crypto infrastructure, has acquired expand.network, a company offering a single API for DeFi (decentralized finance) connectivity services designed to help large financial institutions seamlessly access on-chain trading. While the exact acquisition price was not disclosed, Blockdaemon stated the deal is worth tens of millions of dollars. Expand provides API access to DeFi, supporting connections to over 170 endpoints, including decentralized exchanges (DEXs), cross-chain bridges, lending protocols, and oracles.
Konstantin Richter, founder and CEO of Blockdaemon, said in an interview: "DeFi will significantly reduce the cost for banks and institutions to run financial infrastructure, making it a long-term beneficiary area for institutional adoption. Although this sector is still in its early stages—with much work remaining in regulatory clarity, adoption rates, and decentralization—now is the right time to accelerate this specific vertical within our product suite."
