Blockchain infrastructure provider Blockdaemon, which powers institutional clients such as OneDegree and CoinShares, may be eyeing a public listing in 2026.
Crypto infrastructure provider Blockdaemon, backed by Goldman Sachs, SoftBank, and Kraken, among others, is weighing in on going public in 2026.
In an interview with Bloomberg, the company’s founder and chief executive Konstantin Richter indicated that the company, currently valued at around $3.3 billion, would assess market conditions in 2025 before making a decision.
Founded in 2017, Blockdaemon has built a client base of over 400 institutional customers. In September 2021, the company secured $155 million in a Series B funding round from backers like Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital.
Richter said Hong Kong currently offers a more favorable environment for a listing compared to the U.S., where the regulatory landscape for crypto is “really bad.” However, he expects the situation in the U.S. to improve after the November elections, regardless of the result.
The Blockdaemon CEO, who sees Asia as a key growth area for the firm, noted that the company plans to double its team in the region within a year, though exact figures were not disclosed.
Despite Hong Kong’s attractiveness for crypto listings, startups in the city continue to face challenges. Web3 firms still seem to struggle to open bank accounts due to stringent regulatory requirements and the cautious stance of traditional banks. As crypto.news reported earlier, Johnny Ng, a member of the Hong Kong Legislative Council, has called on authorities to improve the regulatory environment, but these issues still deter many foreign companies from establishing local branches.