Blockdaemon, an institutional-grade blockchain facilities business for node management and staking, today revealed it has actually gotten Gem, a cryptocurrency API business with a fiat-to-crypto on-ramp and an extensive trade information aggregation service for tracking crypto financial investments.
As part of the offer, Blockdaemon will make the most of all of Gem’s flagship items including its on-ramp service, its Connect API, its KYC Passport, and more. The acquisition follows Blockdaemon’s current Series C of $207 million with a post-money appraisal of $3.25 billion.
Bringing Additional Peace of Mind to Users
Moreover, Blockdaemon likewise revealed today the rollout of a brand-new insurance coverage that secures Blockdaemon consumers if Blockdaemon experiences a system failure or security failure that triggers:
- Slashing occasion – where legal charges are enforced or taken by a blockchain network since of a procedure offense based upon the accessibility of Blockdaemon’s services; or
- Double-signing occasion – where the recognition of 2 or more various blocks at the exact same area of a specific blockchain network leads to liability.
As part of the offering, Blockdaemon has actually created a claims procedure where it will deal with the insurance coverage provider to identify the cause and quantity of loss in a fast, structured style.
Currently, Blockdaemon uses connections to over 50 blockchain procedures. Of these, Blockdaemon services over 25 proof-of-stake networks. With many procedures under management, Blockdaemon’s top concern is to make sure customers are completely safeguarded throughout the board.