Blockdaemon Eyes Public Listing in 2026 Amid Favorable Market Conditions

• Blockdaemon, backed by Goldman Sachs and SoftBank, plans to assess market conditions in 2025 before deciding on a 2026 public listing.
• CEO Konstantin Richter sees Hong Kong as a favorable environment for listing, contrasting with the U.S.’s challenging crypto regulations.
• Blockdaemon, with over 400 institutional clients, aims to double its team in Asia within a year, expanding its regional presence.

Blockchain infrastructure provider Blockdaemon, which serves institutional clients like OneDegree and CoinShares, is considering a public listing in 2026. The company, valued at around $3.3 billion, plans to evaluate market conditions in 2025 before finalizing its decision, according to CEO Konstantin Richter in a recent Bloomberg interview. Blockdaemon, backed by major investors including Goldman Sachs, SoftBank, and Kraken, has rapidly expanded since its founding in 2017 and now boasts over 400 institutional clients.

Growth and Strategic Positioning

Blockdaemon has established a solid presence in the blockchain infrastructure sector, securing $155 million in a Series B funding round in September 2021 from investors like Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital. Richter noted that Hong Kong currently provides a more favorable environment for a potential listing than the U.S., where crypto regulations pose significant challenges. He expects the U.S. regulatory landscape to improve following the upcoming November elections, which could influence Blockdaemon’s listing decision.

Focus on Asia and Expansion Plans

Asia remains one of the regions suitable for Blockdaemon to grow in as the firm continues to seek opportunities. Works in the region are expected to expand twofold within the next year an indication of the companies’ commitment to enhancing local operations in Asian markets. Still, regulatory issues and the banking industry’s prudency remain a difficulty for firms in operation in Hong Kong despite its attraction for crypto listing.

Challenges in Hong Kong’s Crypto Sector

Hong Kong’s evolving regulatory landscape continues to be a double-edged sword for crypto firms. While the city offers opportunities, startups often struggle with stringent regulatory requirements, particularly when opening bank accounts. Local lawmakers, such as Johnny Ng of the Hong Kong Legislative Council, have advocated for regulatory improvements to attract more companies. However, the current environment still deters many foreign crypto firms from establishing local branches.