Blockdaemon, a Web3 infrastructure provider, is considering pursuing an initial public offering (IPO) in 2026, according to a Sept. 19 report by Bloomberg News citing an interview with Blockdaemon’s founder, Konstantin Richter.
“Let’s see how 2025 holds up and then I think 2026 would be a year where we might want to pursue something like that,” Richter reportedly told Bloomberg.
Richter reportedly told Bloomberg he prefers to list Blockdaemon in Hong Kong rather than in the United States, citing concerns about the US regulatory environment for Web3 companies.
He reportedly added that Asia is a growth driver for Blockdaemon, which plans to roughly double staffing in the region by 2025. Richter expects the US regulatory climate to improve after the US elections, regardless of the outcome, according to Bloomberg.
Blockdaemon did not immediately respond to a request for comment from Cointelegraph.
Blockdaemon offers staking for institutions. Source: Blockdaemon
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Blockdaemon operates a suite of blockchain infrastructure products for institutions. They include non-custodial wallets, nodes and programming interfaces for various blockchains, and staking-as-a-service.
The platform, which Blockdaemon describes as a “node stack,” is “a broad constellation of products used by institutions to navigate the blockchain ecosystem,” the company said.
Other companies — including Figment and Kiln — also provide staking services to US financial institutions. Staking involves securing blockchains — such as Ethereum, Solana and Avalanche — by posting crypto as collateral with validators in exchange for network fees.
Staking pays rewards on numerous virtual assets. Source: StakingRewards.com
Multiple Web3 infrastructure companies — such as Circle Internet Financial — are also mulling a public market debut. Circle, which manages USD Coin (USDC), a widely used stablecoin, has already submitted a draft IPO registration to the US Securities and Exchange Commission, according to a Jan. 10 announcement.
In 2022, Blockdaemon closed on a $207-million private funding round, which valued the company at approximately $3.25 billion, Blockdaemon said in a statement.
Blockchain infrastructure companies are becoming stables of the US financial markets as an increasing number of cryptocurrency investment products gain approval from regulators.
Exchange-traded funds (ETFs) holding spot Bitcoin (BTC) and Ether (ETH) hit the US market in January and July, respectively. They now command upward of $60 billion in assets under management (AUM), collectively, according to data from fund researcher Morningstar.
Founded in 2017, Blockdaemon serves more than 400 institutional clients and is backed by Wall Street firms, including Goldman Sachs, JPMorgan Chase and Citi Ventures.
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