Home » JPMorgan invests in SoftBank-backed blockchain startup

JPMorgan invests in SoftBank-backed blockchain startup

by LLT Editor
18th Nov 21 11:16 am

JPMorgan Chase Strategic Investments and Tiger Global Management have invested in blockchain-infrastructure company Blockdaemon.

Blockdaemon, which counts Softbank and Goldman Sachs among backers, was valued it at $1.255 billion in September.

Bloomberg reports that the firm connects commercial stakeholders to blockchains and helps manage nodes.

“We have seen growth across every dimension, customer count, contract size, capital on nodes, team members etc.,” Konstantin Richter, chief executive officer and founder of Blockdaemon told Bloomberg.

“The institutional demand has driven massive changes around security and compliance,” Richter said. “We always want to be ahead of regulatory and security concerns, so have invested massively in these areas, ranging from bringing on in-house legal/regulatory functions, compliance officers, CISO and — most unique in the crypto staking space specifically — audited financials.”

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